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Iceland currency is quite close to the dual exchange rate with the central bank that trades foreign currency to local banks at much lower price in comparison with international market rates. Last week the government of the country started to control the banking system of the country and has already put several restrictions on foreign exchange by carrying out everyday auctions intended to establish the value of country’s currency.

The authorities of the country created a task force aimed at investigation and prosecution of the cheating in the foreign exchange market that is overcrowded with dishonest traders. This task was created by the CFTC (the Commodity Futures Trading Commission) that is involved into control of the US futures markets. According to the CFTC comments the main aims of creating the task were not only investigation of the frauds occurred at the foreign exchange markets but also certain work with other control bodies and criminal authorities.