In an interview with the Montreal Gazette, the Icelandic Ambassador to Canada, Thordur Óskarsson, laid to rest rumors that Iceland may adopt the Canadian dollar.
Thordur said the Canadian dollar was not among the top four options being looked at in Iceland.
He pointed out that the main market area for Icelandic products is Europe and the European Union, visir.is reports. He further explained that Iceland and Canada do not have the necessary economic relationship for a viable adoption of the currency.
Thordur is to give a speech on the topic hosted by the Canadian Nordic Society in Ottawa on Wednesday, the Montreal Gazette reports.
Click here to read about Iceland analyzing the viability of adopting the Canadian dollar.