The Icelandic krona sunk like a stone, and foreign exchange still remains limited.

WSJ: Icelanders Reject Deal to Repay U.K., Netherlands

Looking back through the data from 2004 through 2007, the Icelandic krona was one of the most overvalued currencies.

FORBES: The Big Mac Index and Currency ETFs

That's especially true as the U.S. dollar gains value against the Icelandic krona -- offering some attractive hotel and shopping opportunities.

CNN: 'Dancing lights' draw thousands to frozen north

The central bank raised interest rates by a full six percentage points to 18% on October 28th, as trading resumed in the Icelandic krona after a suspension of nearly a week.

ECONOMIST: The IMF adopts a more flexible approach

Suggestions that Iceland should do so have been made cautiously on the left, and by some businessmen, who say they might be happy to swap the Icelandic krona, which fell in value by 13% last year, for the euro.

ECONOMIST: David Oddsson, Iceland��s Eurosceptic leader