The
kuna is the currency of
Croatia
(ISO 4217 code:
HRK). It is subdivided into 100
lipa.
The kuna is issued by the Croatian
National Bank
and the coins are minted by the Croatian Monetary
Institute.
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" (translated as
kruna in Croatian).
The word
lipa means "
linden
tree".
Earlier 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 (later )
gryvna
of
silver.
In the
Middle Ages, many foreign monies
were used in Croatia, but since at least 1018 a local currency was
in use. Between 1260 and 1380, the Croatian Viceroys were making a
marten-adorned silver coin called the
banovac. However, the diminishing autonomy of
Croatia within the
Croatia-Hungarian Kingdom
led to the gradual disappearance of that currency.
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.
In 1941,
when the Ustaše formed the Independent
State of Croatia
, they introduced the Independent State of Croatia
kuna. This currency remained in circulation until 1945,
when it disappeared together with the fascist puppet-state.
Kuna since 1994
The modern kuna was introduced on May 30, 1994, starting a
transitional period from
Croatian
dinar, ending on December 31, 1994. The exchange rate between
dinar and kuna was 1 kuna = 1000 dinara.
The choice of the name
kuna was controversial for a number
of Croatian citizens, including the Serb minority, as the same
currency name had been used by the
Independent State of Croatia
kuna. 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 World War
II extremist
Fascist 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. Additionally,
terms like
kruna (crown) and
banica (viceroy's
wife) were found inappropriate for the country which is a
republic.
The transition to the new currency went smoothly and the
controversy quickly blew over.
The self-proclaimed Serbian entity
Republic of Serbian Krajina did
not use the kuna or the
Croatian
dinar. Instead, they issued their own
Krajina dinar until the region was integrated
back into Croatia in 1995.
The main reference currency for kuna was the
German Mark, and later the
Euro.
A long-time policy of the Croatian
National Bank has been to keep the fluctuations of the kuna
exchange rate with the euro in a relatively stable range.
The country has been on the path of
accession to the
European Union and it plans to join the
European Monetary System.
Coins
In 1994, coins were introduced in denominations of 1, 2, 5, 10, 20
and 50 lipa (Croatian word for linden or
tilia
tree), 1, 2 and 5 kuna. The 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).
| Denomination |
Reverse Design |
| Croatian |
Latin |
English translation |
| 1 lipa |
kukuruz |
Zea mays |
Maize |
| 2 lipa |
vinova loza |
Vitis vinifera |
Grapevine |
| 5 lipa |
hrast lužnjak |
Quercus robur |
Oak |
| 10 lipa |
duhan |
Nicotiana tabacum |
Tobacco |
| 20 lipa |
maslina |
Olea europaea |
Olive |
| 50 lipa |
velebitska degenija |
Degenia velebitica |
Degenia |
| 1 kuna |
slavuj |
Luscinia megarhynchos |
Nightingale |
| 2 kune |
tunj |
Thunnus thynnus |
Tuna |
| 5 kuna |
mrki medvjed |
Ursus arctos |
Brown Bear |
A number of commemorative designs have also been issued for
circulation, see
Commemorative coins of
the Croatian kuna.
Banknotes
Present-day Croatian banknotes
See also
References
- History of Croatian money by Dalibor
Brozović - Excerpts from the book Kune and lipe - Currency
of the Republic of Croatia, Zagreb, Croatian
National Bank
- Povijest hrvatskog novca, Section 3,
Croatian National Bank compilation
from multiple sources
- Croatian Government and Croatian National Bank decisions
published in Narodne novine 37/94 [1][2][3][4]
- "The rich visual symbolism of Croatian
currency" by Ante Milinović, in the Croatian Heritage
Foundation's Almanac for 2001
- Monetary policy and ERM II participation on the
path to the euro, Speech by Lucas Papademos, Vice President of the
ECB at the tenth Dubrovnik economic conference, in
Dubrovnik, 25 June
2004
- "Vujčić: uvođenje eura dvije, tri godine nakon ulaska u
EU", statements made by Boris Vujčić, deputy governor of the
Croatian National Bank, at the Dubrovnik economic conference, June
2006
External links
's Old Town
fortress, mirrored view
in Pula
and the city
plan of Motovun
in Vukovar
;
; church of
St. Vid
; the
building of the High Command at Tvrđa
; Diocletian's Palace
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