Today, we will delve into an important aspect of economics and finance – the currency of Croatia.
Does Croatia use Euros? Why?
As of January 1, 2023, Croatia has officially become the 20th member of the eurozone, adopting the euro as its new currency. The transition to the single currency is anticipated to fortify the country's economy, enhancing stability and aiming to elevate the standard of living for its residents.
What are the Euro denominations in Croatia?
Currency notes come in various denominations such as 5, 10, 20, 50, 100, and 200 euros, while coins, including 1 and 2 euros and 1, 2, 5, 10, 20, and 50 cents, are currently in active circulation. Additionally, a 500 euro banknote, though discontinued in 2019, remains legal tender.
Croatian currency: symbol, code
The symbol and code for the euro in Croatia are as follows:
Symbol: €
Code: EUR
What currency does Croatia use besides the Euro?
The kuna, pronounced as [kǔːna], designated by the symbol kn and currency code HRK, served as Croatia's official currency from May 30, 1994, until December 31, 2022. In 2023, it was succeeded by the euro (€, EUR). The kuna was divided into 100 lipa and was issued by the Croatian National Bank, with coins produced by the Croatian Mint.
Croatian kuna currency: symbol, code
The currency code for Croatian Kunas is HRK, and its corresponding currency symbol is kn.
Old currency in Croatia: history
Historical records from the Middle Ages document the use of a tax or currency based on the highly prized marten skins, referred to as marturina or kunovina, in Lower Pannonia (now part of Hungary and Slavonia). In Slavonia, the initial minted currency was the frizatik, but in the 13th century, the Ban of Slavonia introduced a silver coin adorned with a marten, known as the banovac.
The concept of a kuna currency resurfaced in 1939 when the Banovina of Croatia, an autonomous province within the Kingdom of Yugoslavia, considered issuing its own money alongside the Yugoslav dinar. In 1941, with the establishment of the Independent State of Croatia by the Ustasha regime, the Independent State of Croatia kuna was introduced. This currency remained in use until 1945 when, along with competing issues by the communist Partisans, it ceased circulation upon the formation of FPR Yugoslavia and was replaced by the Yugoslav dinar.
In Croatian, the plural form of kuna is kune, subject to variation due to different number declension rules, such as 2 kune or 10 kuna. It is important to note that the term "kuna" has no connection to the various Slavic currencies referred to as "koruna," meaning "crown" in Croatian.