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Croatian kuna
hrvatska kuna (Croatian)
200 kuna	5 kuna
ISO 4217 Code	HRK
User(s)	Croatia
Inflation	1.5%
Source	National Bank, august 2009
Method	CPI excluding rents, gross fixed capital formation, lotteries and gambling, and life insurance
Subunit
1/100	lipa
Symbol	kn
lipa	lp
Plural	The language(s) of this currency belong(s) to the Slavic languages. There is more than one way to construct plural forms. See article.
Coins
Freq. used	5, 10, 20, 50 lipa, 1, 2, 5 kn
Rarely used	1, 2 lipa, 25 kn
Banknotes
Freq. used	10, 20, 50, 100, 200 kn
Rarely used	500, 1000 kn
Central bank	Croatian National Bank
Website	www.hnb.hr
Printer	Giesecke & Devrient
Website	www.gi-de.com
Mint	Croatian Monetary Institute
Website	www.hnz.hr

For other uses, see Kuna and HRK.

The kuna is the currency of Croatia (ISO 4217 code: HRK). It is subdivided into 100 lipa. The kuna is issued by the Croatian National Bank and the coins are minted by the Croatian Monetary Institute.

The word "kuna" means "marten" in Croatian since it is based on the use of marten pelts as units of value in medieval trading. It has no relation to the various currencies named "koruna" (translated as kruna in Croatian). The word lipa means "linden (lime) tree".

[edit] Earlier usage

During Roman times, in the provinces of upper and lower Pannonia (today Hungary and Slavonia), taxes were collected in the then highly valued marten skins. Hence, the Croatian word "marturina" or tax, derived from the Latin word "martus" (Croatian: "kuna"). The kuna was a currency unit in several Slavic states, most notably Kievan Rus and its successors until the early 15th century. It was equal to ¹⁄₂₅ (later ¹⁄₅₀) gryvna of silver.

In the Middle Ages, many foreign monies were used in Croatia, but since at least 1018 a local currency was in use. Between 1260 and 1380, the Croatian Viceroys were making a marten-adorned silver coin called the banovac.^[2]^[3] However, the diminishing autonomy of Croatia within the Croatia-Hungarian Kingdom led to the gradual disappearance of that currency.

The idea of a kuna currency reappeared in 1939 when the Banovina of Croatia, established within the Yugoslav Monarchy, planned to issue its own money.

In 1941, when the Ustaše formed the Independent State of Croatia, they introduced the Independent State of Croatia kuna. This currency remained in circulation until 1945, when it disappeared together with the fascist puppet-state.

[edit] Kuna since 1994

The modern kuna was introduced on May 30, 1994, starting a transitional period from Croatian dinar, ending on December 31, 1994.^[4] The exchange rate between dinar and kuna was 1 kuna = 1000 dinara.

The choice of the name kuna was controversial for a number of Croatian citizens, including the Serb minority, as the same currency name had been used by the Independent State of Croatia kuna. The Croatian government claimed continuity in the historical use of marten pelts, the use of a marten adorned coin by Croatian viceroys and the consideration of the kuna during the Banovina of Croatia in the first Yugoslavia. Detractors accused the government of attempting to establish symbolic continuity of modern Croatia with the World War II extremist Fascist regime, and using these relatively little known historical facts as an excuse.

An alternative proposition for the name of the new currency was kruna (crown) after the Austro-Hungarian krone. However, this proposition was challenged on the same basis as the previous, since the kruna was proposed to be divided in 100 banica. Additionally, terms like kruna (crown) and banica (viceroy's wife) were found inappropriate for the country which is a republic.^[5]

The transition to the new currency went smoothly and the controversy quickly blew over.

The self-proclaimed Serbian entity Republic of Serbian Krajina did not use the kuna or the Croatian dinar. Instead, they issued their own Krajina dinar until the region was integrated back into Croatia in 1995.

The main reference currency for kuna was the German Mark, and later the Euro. A long-time policy of the Croatian National Bank has been to keep the fluctuations of the kuna exchange rate with the euro in a relatively stable range. The country has been on the path of accession to the European Union and it plans to join the European Monetary System.^[6]^[7]

[edit] Coins

In 1994,^[4] coins were introduced in denominations of 1, 2, 5, 10, 20 and 50 lipa (Croatian word for linden or tilia tree), 1, 2 and 5 kuna. The coins are issued in two versions: one with the name of the plant or animal in Croatian (issued in odd years), the other with the name in Latin (issued in even years).

Denomination	Reverse Design
Denomination	Croatian	Latin	English translation
1 lipa	kukuruz	Zea mays	Maize
2 lipa	vinova loza	Vitis vinifera	Grapevine
5 lipa	hrast lužnjak	Quercus robur	Oak
10 lipa	duhan	Nicotiana tabacum	Tobacco
20 lipa	maslina	Olea europaea	Olive
50 lipa	velebitska degenija	Degenia velebitica	Degenia
1 kuna	slavuj	Luscinia megarhynchos	Nightingale
2 kune	tunj	Thunnus thynnus	Tuna
5 kuna	mrki medvjed	Ursus arctos	Brown Bear

A number of commemorative designs have also been issued for circulation, see Commemorative coins of the Croatian kuna.

[edit] Banknotes

Present-day Croatian banknotes

Denomination	Obverse Design	Reverse Design
5 kuna (withdrawn)	Petar Zrinski and Fran Krsto Frankopan	Varaždin's Old Town fortress, mirrored view
10 kuna	Juraj Dobrila	Arena colosseum in Pula and the city plan of Motovun
20 kuna	Josip Jelačić	The castle of Count Eltz in Vukovar
50 kuna	Ivan Gundulić	Dubrovnik; historic, UNESCO-protected town core
100 kuna	Ivan Mažuranić	Rijeka; church of St. Vid
200 kuna	Stjepan Radić	Osijek; the building of the High Command at Tvrđa
500 kuna	Marko Marulić	Split; Diocletian's Palace
1000 kuna	Ante Starčević	Statue of King Tomislav and the Zagreb cathedral

[edit] See also

[edit] References

^ "Consumer price indices, December 2008". Central Bureau of Statistics. January 14, 2009. http://www.dzs.hr/Eng/Publication/2008/13-1-1_12e2008.htm. Retrieved 2009-02-05.
^ History of Croatian money by Dalibor Brozović - Excerpts from the book Kune and lipe - Currency of the Republic of Croatia, Zagreb, Croatian National Bank
^ Povijest hrvatskog novca, Section 3, Croatian National Bank compilation from multiple sources
^ ^a ^b Croatian Government and Croatian National Bank decisions published in Narodne novine 37/94 [1][2][3][4]
^ "The rich visual symbolism of Croatian currency" by Ante Milinović, in the Croatian Heritage Foundation's Almanac for 2001
^ Monetary policy and ERM II participation on the path to the euro, Speech by Lucas Papademos, Vice President of the ECB at the tenth Dubrovnik economic conference, in Dubrovnik, 25 June 2004
^ "Vujčić: uvođenje eura dvije, tri godine nakon ulaska u EU", statements made by Boris Vujčić, deputy governor of the Croatian National Bank, at the Dubrovnik economic conference, June 2006

Krause, Chester L. and Clifford Mishler (1991). Standard Catalog of World Coins: 1801–1991 (18th ed. ed.). Krause Publications. ISBN 0873411501.
Pick, Albert (1994). Standard Catalog of World Paper Money: General Issues. Colin R. Bruce II and Neil Shafer (editors) (7th ed.). Krause Publications. ISBN 0-87341-207-9.
Pick, Albert (1990). Standard Catalog of World Paper Money: Specialized Issues. Colin R. Bruce II and Neil Shafer (editors) (6th ed.). Krause Publications. ISBN 0-87341-149-8.

[edit] External links

Wikimedia Commons has media related to: Money of Croatia

Kuna banknotes, Croatian National Bank
Kuna exchange rates, Croatian National Bank
Croatian Ministry of Foreign Affairs & European Integration - History of the Croatian kuna
Croatian government site: The Republic of Croatia and its currency
Forenzičari novca (Croatian)

Current HRK exchange rates
From Currate.com Tools:	AUD CAD CHF EUR GBP HKD JPY USD
From Google Finance:	AUD CAD CHF EUR GBP HKD JPY USD
From Yahoo! Finance:	AUD CAD CHF EUR GBP HKD JPY USD
From XE.com:	AUD CAD CHF EUR GBP HKD JPY USD
From OANDA.com:	AUD CAD CHF EUR GBP HKD JPY USD

Modern Croatian kuna
Preceded by: Croatian dinar Reason: inflation Ratio: 1 kuna = 1000 dinara	Currency of Croatia June 1, 1994 – August 1995	Currency of Croatia August 1995 –	Succeeded by: Current
Preceded by: Serbian Krajina 1994 dinar Reason: reunification

[0] "Consumer price indices, December 2008". Central Bureau of Statistics. January 14, 2009. http://www.dzs.hr/Eng/Publication/2008/13-1-1_12e2008.htm. Retrieved 2009-02-05.

[1] History of Croatian money by Dalibor Brozović - Excerpts from the book Kune and lipe - Currency of the Republic of Croatia, Zagreb, Croatian National Bank

[2] Povijest hrvatskog novca, Section 3, Croatian National Bank compilation from multiple sources

[kuna-intro-1994-3] Croatian Government and Croatian National Bank decisions published in Narodne novine 37/94 [1][2][3][4]

[4] "The rich visual symbolism of Croatian currency" by Ante Milinović, in the Croatian Heritage Foundation's Almanac for 2001

[5] Monetary policy and ERM II participation on the path to the euro, Speech by Lucas Papademos, Vice President of the ECB at the tenth Dubrovnik economic conference, in Dubrovnik, 25 June 2004

[6] "Vujčić: uvođenje eura dvije, tri godine nakon ulaska u EU", statements made by Boris Vujčić, deputy governor of the Croatian National Bank, at the Dubrovnik economic conference, June 2006

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