The Icelandic currency slipped only slightly against the euro today, suggesting a return to calm after days of crisis.
But questions remained for investors over the fate of the debts and assets of the island's top three banks, whose collapse precipitated the decline of the formerly high flying nation.
Officials were also still talking with the International Monetary Fund about a possible loan to shore up confidence and foreign exchange reserves, a day after a first round of loan negotiations with Russia ended without agreement.
Belgium and Luxembourg were also considering help for Iceland's top bank, Kaupthing, where savers from the two nations had money.
In a hopeful sign for the authorities, a second of the new central bank foreign exchange auctions saw the crown fixed at a rate of 150.50 to the euro, just down from 150.0 yesterday.
The central bank last week had abandoned attempts to defend a 131 to the euro rate and the currency market froze.
"Things are getting calmer and we are getting more order in the system, but we are still facing a foreign currency shortage," said Asgeir Jonsson, analyst at Kaupthing.
Iceland's crisis is an unusual situation for the IMF. Its economy of some 300,000 people is highly developed and years of rapid growth have brought it unprecedented prosperity.
Icelandic bank Glitnir said in a note that the IMF usually imposes some kind of conditions on countries that receive aid, though terms for Iceland would differ from those imposed on emerging market nations such as Brazil or Argentina in the past.
Prime Minister Geir Haarde told parliament yesterday that "we are now slowly but surely emerging from the worst of the storm" after the central bank on the same day cut interest rates to 12 per cent from 15.5 per cent to help the economy.