Bank of Estonia exchanging Croatian kunas for euros to end of February

Weather vane atop the Bank of Estonia building in Tallinn.
Weather vane atop the Bank of Estonia building in Tallinn. Source: Siim Lõvi /ERR

The Bank of Estonia (Eesti Pank) will be exchanging kuna banknotes, Croatia's former currency, for euros, through to the end of February.

Rait Roosve, head of the central bank's Cash and Infrastructure Department, said: "The central banks in the euro area allow the public to exchange the national currencies of new member states for euros, for two months after the new members join, at no cost and at the central bank rate.

"Estonia was given the same sort of support when we joined the euro area, as were Latvia and Lithuania. From March onward, it will only be possible to exchange kunas, at the central bank rate, in Croatia itself," Roosve went on, via a Bank of Estonia press release.

The euro to HRK exchange rate was set at 1.00 = 7.53450 from January 1.

The exchange can be conducted during working hours at the Bank of Estonia's museum, on Estonia pst in Tallinn, which is open 12 p.m to 5 p.m. Tuesdays to Fridays, and 11 a.m. to 4 p.m. on Saturdays. The museum is closed Mondays.

No commission is charged on transactions, which are limited to 8,000 HRK (ie. approximately €1,062) per person. Only HRK bills, and not coins, may be exchanged.

In Croatia itself, HRK banknotes and coins can be exchanged for euros at banks and post offices through to year end, though commissions may be charged for larger transactions or at commercial banks, the Bank of Estonia says.

From January 2024, this function will be taken over by Croatia's central bank, commission-free and for a limitless time period in the case of bills, and through to the end of 2025 for coins.

The kuna remains legal tender in Croatia through to January 15 this year, after a two-week transitional period in which it can be used in tandem with euros.

Estonia went on the euro in January 2011. Estonian kroons (EEK), Estonia's currency from summer 1992 until that date, can be exchanged for free, including coins, at the Bank of Estonia also, at a rate of €1 = 15.6466 EEK.


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Editor: Andrew Whyte

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