Basic information about Reykjavik

Few people have the question where is Reykjavík - on the island of Iceland, of course! And although it is located in the southwestern part of it on the Seltyarnarnarnes Peninsula, Reykjavík is the capital of Iceland and the northernmost capital in the entire world. The population of Reykjavík is 118,814, if you don't count the residents of the satellite towns. And if you do, it turns out that 63% of the population of the entire country lives around the capital.

It is believed that Reykjavík was founded in 874, when a settler farmer laid out a dwelling on the site. The area is rich in hot springs that burst forth columns of steam. This was very impressive to the Celtic and Norwegian settlers, who nicknamed it "smoking bay" - Icelandic for "reykjavik."

By 1262, all the taxes and tribute levied across the country flowed into the city. International trade with the Hanseatic League, England, and Norway flourished here. The city reached its maximum economic-political importance after it was taken over by Denmark in 1395. In 1627, it fell into decline after being ravaged by Berber pirates.

It was only in the middle of the 18th century that the town began to revive gradually when a royal treasurer, Skuli Magnusson, opened wool workshops here. By August 1786, the settlement received the official status of a town. In 1845, it was already the seat of the country's administration.

The intensive economic development of the city began during the Second World War when it became a strategic point for British and American ships patrolling the North Atlantic. By that time, the country had been engaged in a decades-long peaceful struggle for national independence. From World War I to World War II, Iceland came under the control of the Germans, British, and Americans. But after the treaty of union with Denmark officially expired in 1944, the country became an independent republic, with Reykjavik as its capital.

The Icelandic krona (ISK) is the currency of the country.