Croatian kuna

Article

July 5, 2022

The Croatian kuna (Croatian: hrvatska kuna) is the current official currency of Croatia. His currency is the coot. The word kuna means deer in Croatian, and it became a currency because deer skin was used as currency in the Middle Ages. The word lipa means linden in Croatian. On June 1, 2022, the European Commission approved that the Croatian kuna be replaced by the euro from 2023. Until January 15, 2023, the kuna and the euro will be in parallel circulation, after which only the euro can be used.

History

When Pannonia was a Roman province, taxes had to be paid in cattle skins, which were highly valued at that time - this is where the word marturina or mardurina (in Croatian kunovina) comes from, which means cattle skin tax (martus in Latin means to cut). The kuna served as currency in several Slavic states, the most significant of which was Kievan Rus and the states that replaced it, which used it until the early 15th century; its value was equal to 1/25 (later 1/50) hryvnia of silver. A variety of foreign currencies circulated in medieval Croatia, approx. And after 1018, they introduced their own money. Between 1255 and 1384, the Croatian Ban minted coins decorated with the nyest (Ban denar), but later these coins - with the decline of Croatia's independence - gradually declined.

During World War II

The introduction of the kuna came up again when the Croatian Treasury, established in 1939 within the Kingdom of Yugoslavia, was considering issuing its own currency. Finally, on July 26, 1941, the Independent State of Croatia introduced the kuna, which replaced the Yugoslav dinar in a 1:1 ratio. Its currency was the banica (1 kuna 100 banica). Its exchange rate was fixed to the imperial mark at the rate of 1 mark 20 kuna, the banknotes were printed by the German company Giesecke & Devrient. Coins minted at that time: 0.50 kuna, 1 and 2 kuna (September 25, 1942) 10 kuna (August 30, 1941) 50, 100, 500 and 1000 kuna (May 26, 1942) 5,000 kuna (May 26, 1943) July 15) 1,000 and 5,000 kuna (September 1, 1943) The 10,000 kunas were only prepared and 1 piece can still be found in the Leipzig museum. On February 28, 1945, a 50,000 kuna banknote was also produced, but it was no longer issued at the end of the war. Finally, between June 30 and July 9, 1945, the kuna was withdrawn from circulation, replaced by the Yugoslav dinar issued in 1944 with an exchange rate of 1 dinar 40 kuna.

The kuna introduced in the 1990s

The current kuna was introduced in June 1994 to replace the already inflated dinar at a value of 1 kuna 1,000 dinars. The choice of name provoked controversy among the Serbian minority in Croatia, since it was also the currency of the Independent State of Croatia, which was persecuting the Serbs, which - in their opinion - would express an undesirable continuity. The Croatian government, on the other hand, contrasted the importance of Roman and medieval traditions, as well as the fact that the introduction of the kuna was already planned in the Croatian Banság. Opponents instead suggested the currency kruna (the name of the crown in Croatian), referring to the Austro-Hungarian crown. In the end, the debate can be considered unnecessary if we take into account that the kuna as a means of payment spans a much larger part of Croatian history than that represented by the World War II puppet state. The Croatian National Bank is responsible for putting the kuna into circulation.

Coins

The Lipa coins show plants found in Croatia, and the Kuna coins show animals, the names of which are shown in Croatian in the case of an odd year of minting, and in Latin in the case of an even year of minting. The 1- and 2-lipa coins are official means of payment, but due to their low value, they have not been minted since 2009 and are not seen in circulation.

Banknotes

It resembles banknotes in both their appearance and denomination