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Croatian Kuna Turns 20

CroatiaCroatia’s current currency, the kuna, has turned 20 yesterday….

On 30 May 1994 the old Croatian dinar was replaced for the first time with the kuna, the currency that remains in force today, despite the country joining the European Union last year. Speaking on the occasion of the 20th anniversary of the kuna, Croatia’s Reserve Bank Governor Boris Vujčić stressed that the stability of the kuna was its greatest asset.

Vujčić said that the kuna exchange-rate had never been fixed and that it floated within the range of 15.8% of change in the value of the German mark initially and later the euro. When Croatia went from the dinar to the kuna, 277.9 million dinar banknotes had to be collected and destroyed. The total weight of the old currency collected was 192 tonnes, whilst 1,191 tonnes, or 92.7 billion kuna, was then in to circulation.

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