Croatian kuna
Learn more about Croatian kuna
| ISO 4217 Code | HRK |
| User(s) | Croatia |
| Inflation | 3.3% |
| Source | The World Factbook, 2005 est. |
| Subunit | |
| 1/100 | lipa |
| Symbol | kn |
| Plural | The language(s) of this currency is of the Slavic languages. There is more than one way to construct plural forms. See article. |
| Coins | 1, 2, 5, 10, 20, 50 lipa, 1, 2, 5, 25 kn |
| Banknotes | 5, 10, 20, 50, 100, 200, 500, 1000 kn |
| Central bank | Croatian National Bank |
| Website | www.hnb.hr |
| Printer | Giesecke & Devrient |
| Website | www.gi-de.com |
- "HRK" redirects here. For the airport, see Kharkiv Osnova International Airport.
The kuna is the currency of Croatia (currency code HRK). The word "kuna" means "marten" in Croatian. It has no relation to the various currencies named "koruna"; it is based on the use of marten pelts as units of value in medieval trading.
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[edit] Early 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 home currency was in use. Between 1260 and 1380 the Croatian Viceroys were making a marten-adorned silver coin called banovac[citation needed]. However, the diminishing autonomy of Croatia within the Croatia-Hungarian Kingdom led to the gradual disappearance of that currency.
[edit] Kuna from 1939-1945
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.
The Croatian kuna was introduced in the NDH on 26.7.1941 at the exchange rate of 1 Yugoslav dinar = 1 kuna and was fixed to the Reichsmark at a rate of 20 kuna = 1 RM. It was subdivided into 100 banica.
The kuna was withdrawn from circulation 30.6. - 9.7.1945 and replaced by the 1944 issue of Yugoslav dinar at a rate of 40 kuna = 1 dinar.[citation needed] As can be seen at the bottom of the bills, the Kuna bills were printed in Germany by Giesecke & Devrient.
[edit] Coins
Coins were issued in denominations of 1 and 2 kune but only the 2 kune pieces are available today in appreciable numbers.
[edit] Banknotes
| 10 Kuna bill | Image:10 CroKuna 1941 FrontAndBack.JPG |
|---|---|
| 100 Kuna bill | Image:100 CroKuna 1941 FrontAndBack.JPG |
| 500 Kuna bill | Image:500 CroKuna 1941 FrontAndBack.JPG |
Banknotes were issued dated as follows:
- 26.5.1941 dated 50,100,500,1000 Kn
- 30.8.1941 dated 10 Kn
- 25.9.1942 dated 50 Ban, 1 and 2 Kn
- 15.7.1943 dated 5000 Kn
- 1.9.1943 dated 1000 and 5000 Kn
Banknotes printed but not issued:
- 1.9.1943 dated 100 and 500 Kn
- 15.1.1944 dated 20 and 50 Kn
Banknotes in preparation but not printed:
- 1.9.1943 dated 10000 Kn
The exchange rate was tied to the German RM but with dual exchange rates, one fixed at 20 kuna = 1 RM, the other a state-stimulated RM rate:
- 31.12.1941. 25.00 Kn
- 31.12.1942 37.50 Kn
- 31.12.1943 40.00 Kn
- 31.12.1944 80.00 Kn
- 6.5.1945 120.00 Kn [citation needed]
Rates for other currencies were based on the RM/$ rate.
[edit] Kuna in modern Croatia, 1994-
The kuna was introduced in June 1994 after a transitional period following Croatian independence in the 1991 during which the Yugoslav dinar was replaced with the Croatian dinar. The exchange rate between dinar and kuna was 1 kuna = 1000 dinara. One kuna equals 100 lipa. The word lipa means "linden (lime) tree"
The choice of the name kuna was controversial for the Serb minority in Croatia, as this currency name had been used by the World War II Independent State of Croatia. The Croatian government pointed to the continuity in the historical use of marten pelts, the use of a marten adorned coin by Croatian viceroys & the consideration of the Kuna during the Banovina of Croatia in the first Jugoslavia. Detractors attempted to make a connection between modern Croatia & the WWII extremist regime. An alternative proposition for the name of the new currency was kruna (literally crown) after the Austro-Hungarian krone. However, that proposition was challenged on the same basis as the previous, since the kruna was proposed to be divided in 100 banica. Such criticisms are a red herring considering the historical association between the kuna & the medium of exchange used over the centuries in Croatia.
The kuna is handled by the Croatian National Bank and minted by the Croatian Monetary Institute.
The self-proclaimed Serbian entity Republic of Serbian Krajina did not use the Croatian kuna or the Croatian dinar. Instead, they issued their own dinar until Krajina was integrated back to Croatia in 1995.
[edit] Coins
Croatian coins are issued in two version: one with the name of the plant or animal in Croat, the other with the name in Latin.
| Denomination | Obverse Design |
|---|---|
| 1 lipa | Maize (zea mays) |
| 2 lipe | Grape Vine (vitis vinifera) |
| 5 lipa | Oak (quercus robur) |
| 10 lipa | Tobacco (nicoliana tabacum) |
| 20 lipa | Olive (olba europaea) |
| 50 lipa | Degenia (degenia velebitica) |
| 1 kuna | Nightingale (luscinnia megarhynchos) |
| 2 kune | Tuna (thunnus thynnus) |
| 5 kuna | Brown Bear (ursus arctos) |
[edit] Banknotes
| Denomination | Obverse Design | Reverse Design |
|---|---|---|
| 5 kuna | Petar Zrinski and Fran Krsto Frankopan | Varaždin's Old Town fortress |
| 10 kuna | Juraj Dobrila | Arena colosseum in Pula |
| 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 |
| 500 kuna | Marko Marulić | Split; Diocletian's Palace |
| 1000 kuna | Ante Starčević | Statue of King Tomislav and the Zagreb Cathedral |
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[edit] See also
[edit] External links
| Wikimedia Commons has media related to: |
- Kuna banknotes, Croatian National Bank
- Kuna exchange rates, Croatian National Bank
- Croatian kuna
- Croatian Ministry of Forien Affairs & European Integration - History of the Croatian kuna
- Croatian government site: The Republic of Croatia and its currency
| Preceded by: Yugoslav 1920 dinar Reason: establishment of a pro-Germany puppet state | Currency of Independent State of Croatia 1941 – 1945 | Succeeded by: Yugoslav 1945 dinar Reason: reunification of Yugoslavia as a result of World War II Ratio: 1 dinar = 40 kuna |
| Preceded by: Croatian dinar Reason: inflation Ratio: 1 kuna = 1000 dinara | Currency of Croatia except for Republic of Serbian Krajina June 1, 1994 – August, 1995 | Currency of Croatia August, 1995 – | Succeeded by: Current |
| Preceded by: Serbian Krajina 1994 dinar Reason: reunification by force | |||
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