What is the "Currency Exchange Manipulation" scam in Reykjavik?

Question

Accepted Answer

Shops and vendors advertise prices in euros to attract tourists, then when it is time to pay, insist they only accept Icelandic krona and apply an invented exchange rate that adds 10–20% to the actual cost. Airport exchange booths also charge steep fees. Pay by card wherever possible to get the real exchange rate. If you need cash, use a bank ATM rather than airport exchange counters. Look up the current ISK rate before you arrive so you can spot bad deals.

Money & ATM Scams in Reykjavik

Currency Exchange Manipulation

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