Croatian kuna

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Kuna is the name of the currency of Croatia. Currency code is HRK. One kuna equals 100 lipa. One euro equals around 7.3 kuna (as of 2006). The word kuna means "marten" in Croatian, while the word lipa means "linden". 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.

Kuna was the also the currency of Croatia during the period of fascist puppet NDH 1941-1945.

History

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 a 1/25 (later 1/50) gryvna of silver.

Croatian kuna banknotes were introduced in the NDH on 26.7.1941. at the exchange rate of 1 former yugoslav dinar = 1 kuna and fixed to Reichsmark rate 20 Kn = 1 RM.

Issued banknotes:

  • 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

Not issued banknotes:

  • 1.9.1943. dated 100 and 500 Kn
  • 15.1.1944. dated 20 and 50 Kn

Banknotes in preparation, not yet printed:

  • 1.9.1943. dated 10000 Kn

Exchange rate fixed to german RM but with dual exchange rate, one fixed other stimulated RM rate:

  • 1942. 37,50 Kn
  • 1943. 40 Kn
  • 1944. 40 Kn
  • 1945. 120 Kn to the end of the war

Withdrawn in july 1945. from circulation by rate 1000 Kn = 7 new yugoslav dinars.

Second Kuna, 1994-

The kuna was introduced in June 1994 after the transitional period following Croatian independence in the 1991 during which the Yugoslav dinar was replaced with a Croatian dinar. The exchange rate between dinar and kuna was one thousand to one.

The choice of the name kuna was controversial, not least among the Serbs in Croatia, as the only entity that had used this currency name before was the fascist puppet state of Croatia during World War II. The Croatian government defended its choice with claims of historical use of marten pelts, while its detractors saw it as a move suggesting modern Croatia's continuity with the prior 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.

The kuna is handled by the Croatian National Bank and minted by the Croatian Monetary Institute.

Currency in circulation

Coins

Banknotes

Controversy

The choice of the kuna - the currency of notorious NDH, famous for its genocide against the Serbs, for the currency of Croatia after secession from Yugoslavia was, in the eyes of Serbs who lived in Croatia, highly insultive and upsetting. The Serbs, who were 12% minority in '91 Croatia, were reduced to 2% minority in '95, after a campagn of ethnic cleansing and hostility against the Serbs which continues to this day. Reintroduction of Nazi NDH currency was seen as a part of this chauvinistic campagn for pure Catholic Croatia, i.e. Croatia without Serbs, who were non-Catholic (i.e. Eastern Ortodox).

Current kuna exchange rates

AUD | CHF | EUR | GBP | JPY | USD

See also

Wikimedia Commons has media related to Kuna bills.
Wikimedia Commons has media related to Croatian coins.
German Croatian kuna
Preceded by:
Yugoslav dinar
Ratio: 4 kuna = 1 Italian lira = 0.1 German reichsmark 		Currency of Independent State of Croatia
1941 – 1945 		Succeeded by:
Yugoslav dinar
Ratio: 1 dinar = 40 kuna
Croatian kuna
Preceded by:
Croatian dinar
Ratio: 1 kuna = 1000 dinar 		Currency of Croatia
1994 – 		Succeeded by:
Current
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