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Croatia joined the European Union on 1 July 2013 and the Exchange Rate Mechanism on 10 July 2020 at a rate of 7.53450 HRK to €1. [11] [12] The kuna was replaced by the euro on 1 January 2023 after satisfying prerequisites [13] as the initial time estimate of standard four years after joining the European Union proved too short. [14]
The euro was introduced as a replacement for the Croatian kuna on 1 January 2023. [4] The kuna and the euro were in dual circulation until 14 January 2023 in order to aid the gradual transition to the euro. Prices are displayed in both currencies since 5 September 2022, and will continue to be until 31 December 2023.
In 2022, Croatian economy is expected to grow between 5.9 and 7.8% in real terms and it is expected to reach between $72 and $73.6 billion according to preliminary estimates by Croatian Government surpassing early estimates of 491 billion kuna or $68.5 billion.
The Croatian National Bank (Croatian: Hrvatska narodna banka; pronounced [xř̩ʋaːtskaː nǎːrodnaː bâːŋka]), known until 1997 as the National Bank of Croatia (Croatian: Narodna banka Hrvatske), is the Croatian member of the Eurosystem and has been the monetary authority for Croatia from 1991 to 2022, issuing the Croatian dinar until 1994 and subsequently the Croatian kuna until ...
Croatia adopted the euro as its currency on 1 January 2023, becoming the 20th member state of the eurozone.A fixed conversion rate was set at €1 = kn 7.5345 [1]. Croatia's previous currency, the kuna (Croatian for marten), used the euro (and prior to that one of the euro's major predecessors, the German mark or Deutsche Mark) as its main reference since its creation in 1994, and a long-held ...
Zinc coins were issued in denominations of 1 and 2 kuna in 1941. Circulations of the 1 kuna coin were insignificant which made the coin itself extremely rare. [5] One gold coin with two separate designs valued at 500 kuna was minted in 1941. It consisted of 9.95 grams of .900 fine gold, however it never entered circulation. [6]
The Independent State of Croatia kuna at the time of adoption included banknotes of 10, 50, 100, 500, and 1,000. Banknotes of 1, 2, were later introduced in 1942, and 5,000 banknotes were added in 1943. [10] The Kuna started with a fixed exchange rate of 20.00 Kn (Kuna) = 1 RM (Reichsmark), the currency for Germany at the time. [11]
The Croatian dinar replaced the 1990 version of the Yugoslav dinar at par on 23 December 1991. It was a transitional currency introduced following Croatia's declaration of independence. During its existence, the dinar declined in value by a factor of about 70. On 30 May 1994, the dinar was replaced by the kuna at a rate