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The modern kuna was introduced on 30 May 1994, starting a period of transition from the Croatian dinar, introduced in 1991, which ended on 31 December 1994. [10] One kuna was equivalent to 1,000 dinars at a fixed exchange rate. The kuna was pegged to the Deutsche Mark from the start.
European Currency Unit and 22 national currencies which were replaced by the euro: . Austrian schilling; Belgian franc; Croatian kuna; Cypriot pound; Dutch guilder; Estonian kroon ...
Czechia, Hungary, Poland, Romania and Sweden have not adopted the Euro either, although unlike Denmark, they have not formally opted out; instead, they fail to meet the ERM II (Exchange Rate Mechanism) which results in the non-use of the Euro.
Croatian kuna Croatia: kn (HRK) 2023 7.5345 Cypriot pound Cyprus £ (CYP) 2008 0.585274 Dutch guilder Netherlands: ƒ or fl. (NLG) 1999/2002 2.20371 Estonian kroon Estonia: Kr (EEK) 2011 15.6466 Finnish markka Finland: mk (FIM) 1999/2002 5.94573 French franc France ₣, F or FF (FRF) 1999/2002 6.55957 [e] German mark Germany: DM (DEM) 1999/2002 ...
The European Exchange Rate Mechanism (ERM II) is a system introduced by the European Economic Community on 1 January 1999 alongside the introduction of a single currency, the euro (replacing ERM 1 and the euro's predecessor, the ECU) as part of the European Monetary System (EMS), to reduce exchange rate variability and achieve monetary stability in Europe.
A few years later, the Croatian National Bank moved to a new currency, the Croatian kuna. The name was chosen as the name of the currency to represent the fiscal history of Croatia. [13] One kuna was equivalent to 1000 dinars. The modern kuna became the official currency of Croatia on 30 May 1994. [12]
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Currencies in this category are currently subject to monetary policy that uses an explicit exchange rate target. Such currencies are described as fixed or pegged currencies. Currencies using an exchange-rate target actually float within a very narrow band, typically only a percent or two either side of a nominal exchange-rate target.