CROATIAN KUNA

The 'kuna' is the currency of Croatia (currency code 'HRK'). 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".

Contents

Early Usage

Kuna from 1939-1945

Coins

Banknotes

Kuna in modern Croatia, 1994-present

Coins

Banknotes

See also

External links

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 the banovac [1][2]. However, the diminishing autonomy of Croatia within the Croatia-Hungarian Kingdom led to the gradual disappearance of that currency.

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 Independent State of Croatia (NDH) on 26 July 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The kuna was withdrawn from circulation from 30 June to 9 July 1945 and replaced by the 1944 issue of the Yugoslav dinar at a rate of 40 kuna = 1 dinar. As can be seen at the bottom of the bills, the Kuna bills were printed in Germany by Giesecke & Devrient.

Coins

Coins were issued in denominations of 1 and 2 kune but only the 2 kune pieces are available today in appreciable numbers.

Banknotes

10 Kuna bill
100 Kuna bill
500 Kuna bill

Banknotes were issued with the following dates:

★ 26 May 1941 - 50, 100, 500, 1000 Kn

★ 30 August 1941 - 10 Kn

★ 25 September 1942 - 50 Ban, 1 and 2 Kn

★ 15 July 1943 - 5000 Kn

★ 1 September 1943 - 1000 and 5000 Kn
Banknotes were printed but not issued with the folllowing dates:

★ 1 September 1943 - 100 and 500 Kn

★ 15 January 1944 - 20 and 50 Kn
Banknotes were printed as specimen only (preparation for regular printing) with the following date:

★ 1 September 1943 - 10000 Kn
Banknote proofs were prepared with the following date:

★ 28 February 1945 - 50000 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 December 1941 - 25.00 Kn = 1 RM

★ 31 December 1942 - 37.50 Kn = 1 RM

★ 31 December 1943 - 40.00 Kn = 1 RM

★ 31 December 1944 - 80.00 Kn = 1 RM

★ 6 May 1945 - 120.00 Kn = 1 RM
Rates for other currencies were based on the RM/$ rate.

Kuna in modern Croatia, 1994-present

The modern 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 a number of Croatian citizens, including the Serb minority, as this currency name had been used by the World War II Independent State of Croatia. 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 WWII extremist 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. The transition to the new currency went smoothly and the controversy quickly blew over.
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.

Coins

Croatian 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). Commemorative coins were also issued in all denominations. The 25 kuna coin is exclusively commemorative (issued twice; on the 12th of December 1997, commemorating Croatian Danube region, first meeting of Croatian Esperanto speakers and Croatian joining to the United Nations, and on the 16th of May 2001, commemorating EXPO-Lisabon 1998, introduction of euro and commemorating year 2000). Despite being commemorative, all issued coins are in normal circulation and accepted as a legal tender. All Croatian coins have circular shape, with the exception of the 25 kuna coin, which has the shape of a dodecagon.
'Regular coins'

Denomination	Obverse Design
1 lipa	Maize (Zea mays)
2 lipe	Grapevine (Vitis vinifera)
5 lipa	Oak (Quercus robur)
10 lipa	Tobacco (Nicotiana tabacum)
20 lipa	Olive (Olea europaea)
50 lipa	Degenia (Degenia velebitica)
1 kuna	Nightingale (Luscinia megarhynchos)
2 kune	Tuna (Thunnus thynnus)
5 kuna	Brown Bear (Ursus arctos)

'Commemorative coins'

Denomination	Obverse Design
1 lipa	Maize with inscriptions ''FAO'' (Food and Agriculture Organization of the United Nations), ''1945'' (year of FAO founding), ''1995'' (50th anniversary of FAO and issue year of coin) and ''fiat panis'' (Latin expression for "Let there be bread!")
2 lipe	Emblem of Croatian Olympic Committee with inscriptions ''1996'' (Olympic Games year and issue year of coin), ''Atlanta'' (host city of 1996 Olympic Games) and ''Olimpijske igre'' (Croatian for Olympic Games)
5 lipa	Emblem of Croatian Olympic Committee with inscriptions ''1996'' (Olympic Games year and issue year of coin), ''Atlanta'' (host city of 1996 Olympic Games) and ''Olimpijske igre'' (Croatian for Olympic Games)
10 lipa	Emblem of the United Nations with inscriptions ''Organizacija ujedinjenih naroda'' (Croatian for United Nations Organization), ''1945'' (founding year of United Nations), and ''1995'' (50th anniversary of United Nations and issue year of coin)
20 lipa	Olive with inscriptions ''FAO'' (Food and Agriculture Organization of the United Nations), ''1945'' (year of FAO founding), ''1995'' (50th anniversary of FAO and issue year of coin) and ''fiat panis'' (Latin expression for "Let there be bread!")
50 lipa	Emblem of Croatian Football Federation with inscriptions ''Europsko nogometno prvenstvo'' (Croatian for European Football Championship), ''Engleska'' (Croatian for England), and 1996 (European Championship year and issue year of coin)
1 kuna	Emblem of Croatian Olympic Committee with inscriptions ''1996'' (Olympic Games year and issue year of coin), ''Atlanta'' (host city of 1996 Olympic Games) and ''Olimpijske igre'' (Croatian for Olympic Games)
2 kune	Tuna with inscriptions ''FAO'' (Food and Agriculture Organization of the United Nations), ''1945'' (year of FAO founding), ''1995'' (50th anniversary of FAO and issue year of coin) and ''fiat panis'' (Latin expression for "Let there be bread!")
5 kuna	Images commemorating the 500th anniversary of the printing of the Breviary of Senj in 1494
25 kuna	Non-specific (according to occasion)

Banknotes

Denomination	Obverse Design	Reverse Design
5 kuna	Petar Zrinski and Fran Krsto Frankopan	Varaždin's Old Town fortress, mirrored view
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 at Tvrđa
500 kuna	Marko Marulić	Split; Diocletian's Palace
1000 kuna	Ante Starčević	Statue of King Tomislav and the Zagreb cathedral

See also

★ Krajina dinar

★ Reproduction of Croatian currency

★ Economy of Croatia

External links

★ Kuna banknotes, Croatian National Bank

★ Kuna exchange rates, Croatian National Bank

★ Croatian kuna

★ Croatian Ministry of Foreign Affairs & European Integration - History of the Croatian kuna

★ Croatian government site: The Republic of Croatia and its currency