Croatian kuna
Encyclopedia
The kuna is the currency
Currency
In economics, currency refers to a generally accepted medium of exchange. These are usually the coins and banknotes of a particular government, which comprise the physical aspects of a nation's money supply...

 of Croatia
Croatia
Croatia , officially the Republic of Croatia , is a unitary democratic parliamentary republic in Europe at the crossroads of the Mitteleuropa, the Balkans, and the Mediterranean. Its capital and largest city is Zagreb. The country is divided into 20 counties and the city of Zagreb. Croatia covers ...

 since 1994 (ISO 4217
ISO 4217
ISO 4217 is a standard published by the International Standards Organization, which delineates currency designators, country codes , and references to minor units in three tables:* Table A.1 – Current currency & funds code list...

 code: HRK). It is subdivided into 100 lipa
Lipa
LIPA may stand for:*League for Independent Political Action, an American progressive political organization established in 1928*Liverpool Institute for Performing Arts, a performing arts university in the English city of Liverpool that offers training in acting, dance, music, sound technology, arts...

. The kuna is issued by the Croatian National Bank
Croatian National Bank
The Croatian National Bank is the central bank of the Republic of Croatia.HNB was established by the Constitution of Croatia which was passed by the Croatian Parliament on 21 December 1990. Its main responsibilities are maintaining the stability of the national currency, the kuna, and ensuring...

 and the coins are minted by the Croatian Monetary Institute.

The word "kuna" means "marten
Marten
The martens constitute the genus Martes within the subfamily Mustelinae, in family Mustelidae.-Description:Martens are slender, agile animals, adapted to living in taigas, and are found in coniferous and northern deciduous forests across the northern hemisphere. They have bushy tails, and large...

" in Croatian
Croatian language
Croatian is the collective name for the standard language and dialects spoken by Croats, principally in Croatia, Bosnia and Herzegovina, the Serbian province of Vojvodina and other neighbouring countries...

 since it is based on the use of marten pelts as units of value in medieval trading. The word lipa means "linden (lime) tree
Tilia
Tilia is a genus of about 30 species of trees native throughout most of the temperate Northern Hemisphere. The greatest species diversity is found in Asia, and the genus also occurs in Europe and eastern North America, but not western North America...

".

History and etymology

During Roman times, in the provinces of upper and lower Pannonia
Pannonia
Pannonia was an ancient province of the Roman Empire bounded north and east by the Danube, coterminous westward with Noricum and upper Italy, and southward with Dalmatia and upper Moesia....

 (today Hungary
Hungary
Hungary , officially the Republic of Hungary , is a landlocked country in Central Europe. It is situated in the Carpathian Basin and is bordered by Slovakia to the north, Ukraine and Romania to the east, Serbia and Croatia to the south, Slovenia to the southwest and Austria to the west. The...

 and Slavonia
Slavonia
Slavonia is a geographical and historical region in eastern Croatia...

), tax
Tax
To tax is to impose a financial charge or other levy upon a taxpayer by a state or the functional equivalent of a state such that failure to pay is punishable by law. Taxes are also imposed by many subnational entities...

es 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
Silver
Silver is a metallic chemical element with the chemical symbol Ag and atomic number 47. A soft, white, lustrous transition metal, it has the highest electrical conductivity of any element and the highest thermal conductivity of any metal...

.
It has no relation to the various Slavic currencies named "koruna
Koruna
-Currencies:*Czech koruna or Czech crown, the only modern currency with the name*Austro-Hungarian krone, localized as koruna in Czech/Slovak*Bohemian and Moravian koruna*Czechoslovak koruna*Hungarian korona, localized as koruna in Slovak*Slovak koruna...

" (translated as kruna in Croatian).
In the Middle Ages
Middle Ages
The Middle Ages is a periodization of European history from the 5th century to the 15th century. The Middle Ages follows the fall of the Western Roman Empire in 476 and precedes the Early Modern Era. It is the middle period of a three-period division of Western history: Classic, Medieval and Modern...

, 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
Banovac
Banovac, banski denar or banica is the name of a coin struck and used in Croatia between 1235 and 1384. The name is derived from two words Ban and Denarius...

. 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
Banovina of Croatia
The Banovina of Croatia or Banate of Croatia was a province of the Kingdom of Yugoslavia between 1939 and 1943 . Its capital was at Zagreb and it included most of present-day Croatia along with portions of Bosnia and Herzegovina and Serbia...

, established within the Yugoslav Monarchy, planned to issue its own money.

In 1941, when the Ustaše
Ustaše
The Ustaša - Croatian Revolutionary Movement was a Croatian fascist anti-Yugoslav separatist movement. The ideology of the movement was a blend of fascism, Nazism, and Croatian nationalism. The Ustaše supported the creation of a Greater Croatia that would span to the River Drina and to the border...

 formed the Independent State of Croatia
Independent State of Croatia
The Independent State of Croatia was a World War II puppet state of Nazi Germany, established on a part of Axis-occupied Yugoslavia. The NDH was founded on 10 April 1941, after the invasion of Yugoslavia by the Axis powers. All of Bosnia and Herzegovina was annexed to NDH, together with some parts...

, they introduced the Independent State of Croatia kuna
Independent State of Croatia kuna
The kuna was the currency of the Independent State of Croatia in the period between 1941 and 1945 during World War II. The word "kuna" means "marten" in Croatian and the same word is used for the current Croatian kuna currency. This kuna was subdivided into 100 banica...

. This currency remained in circulation until 1945, when it along with competing issues by the communist Partisans, disappeared with the establishment of FPR Yugoslavia.

Modern currency

The modern kuna was introduced on May 30, 1994, starting a transitional period from Croatian dinar
Croatian dinar
The dinar was the currency of Croatia between December 23, 1991, and May 30, 1994. The ISO 4217 code was HRD.-History:The Croatian dinar replaced the 1990 version of Yugoslav dinar at par. It was a transitional currency introduced following Croatia's declaration of independence. During its...

, ending on December 31, 1994. The exchange rate between dinar and kuna was 1 kuna = 1000 dinars.

The choice of the name kuna was controversial because the same currency name had been used by the Independent State of Croatia kuna
Independent State of Croatia kuna
The kuna was the currency of the Independent State of Croatia in the period between 1941 and 1945 during World War II. The word "kuna" means "marten" in Croatian and the same word is used for the current Croatian kuna currency. This kuna was subdivided into 100 banica...

, but this was dismissed as a red herring, since the same name was in also in use during the Banovina of Croatia
Banovina of Croatia
The Banovina of Croatia or Banate of Croatia was a province of the Kingdom of Yugoslavia between 1939 and 1943 . Its capital was at Zagreb and it included most of present-day Croatia along with portions of Bosnia and Herzegovina and Serbia...

 and by the ZAVNOH. An alternative proposition for the name of the new currency was kruna (crown), divided into 100 banica (viceroy's wife), but this was deemed too similar to the Austro-Hungarian krone
Austro-Hungarian krone
The Krone or korona was the official currency of the Austro-Hungarian Empire from 1892 until the dissolution of the empire in 1918...

 and 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
Republic of Serbian Krajina
The Republic of Serbian Krajina was a self-proclaimed Serb entity within Croatia. Established in 1991, it was not recognized internationally. It formally existed from 1991 to 1995, having been initiated a year earlier via smaller separatist regions. The name Krajina means "frontier"...

 did not use the kuna or the Croatian dinar
Croatian dinar
The dinar was the currency of Croatia between December 23, 1991, and May 30, 1994. The ISO 4217 code was HRD.-History:The Croatian dinar replaced the 1990 version of Yugoslav dinar at par. It was a transitional currency introduced following Croatia's declaration of independence. During its...

. Instead, they issued their own Krajina dinar
Krajina dinar
The dinar was the currency in Republic of Serbian Krajina between 1992 and 1994.-History:There were three distinct dinars. The first was introduced in July 1992 in parallel with the new Yugoslav dinar of that year, to which it was equal...

 until the region was integrated back into Croatia in 1995.

The main reference currency for kuna was the German Mark
German mark
The Deutsche Mark |mark]], abbreviated "DM") was the official currency of West Germany and Germany until the adoption of the euro in 2002. It is commonly called the "Deutschmark" in English but not in German. Germans often say "Mark" or "D-Mark"...

, and later the Euro
Euro
The euro is the official currency of the eurozone: 17 of the 27 member states of the European Union. It is also the currency used by the Institutions of the European Union. The eurozone consists of Austria, Belgium, Cyprus, Estonia, Finland, France, Germany, Greece, Ireland, Italy, Luxembourg,...

. A long-time policy of the Croatian National Bank
Croatian National Bank
The Croatian National Bank is the central bank of the Republic of Croatia.HNB was established by the Constitution of Croatia which was passed by the Croatian Parliament on 21 December 1990. Its main responsibilities are maintaining the stability of the national currency, the kuna, and ensuring...

 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
Accession of Croatia to the European Union
Croatia applied for European Union membership in 2003, and the European Commission recommended making it an official candidate in early 2004. Candidate country status was granted to Croatia by the European Council in mid-2004...

 and it plans to join the European Monetary System
European Monetary System
There are three stages of monetary cooperation in the European Union.-Background:European currency exchange rate stability has been one of the most important objectives of European policy makers at least since the Second World War....

. Kuna is expected to be replaced by the euro within two or three years after joining the European Union.

Coins

In 1994, coins were introduced in denominations of 1, 2, 5, 10, 20 and 50 lipa (Croatian word for linden or tilia
Tilia
Tilia is a genus of about 30 species of trees native throughout most of the temperate Northern Hemisphere. The greatest species diversity is found in Asia, and the genus also occurs in Europe and eastern North America, but not western North America...

 tree), 1, 2, 5 and 25 kuna. The coins are issued in two versions: one with the name of the plant or animal in Croatian
Croatian language
Croatian is the collective name for the standard language and dialects spoken by Croats, principally in Croatia, Bosnia and Herzegovina, the Serbian province of Vojvodina and other neighbouring countries...

 (issued in odd
Even and odd numbers
In mathematics, the parity of an object states whether it is even or odd.This concept begins with integers. An even number is an integer that is "evenly divisible" by 2, i.e., divisible by 2 without remainder; an odd number is an integer that is not evenly divisible by 2...

 years), the other with the name in Latin
Latin
Latin is an Italic language originally spoken in Latium and Ancient Rome. It, along with most European languages, is a descendant of the ancient Proto-Indo-European language. Although it is considered a dead language, a number of scholars and members of the Christian clergy speak it fluently, and...

 (issued in even
Even and odd numbers
In mathematics, the parity of an object states whether it is even or odd.This concept begins with integers. An even number is an integer that is "evenly divisible" by 2, i.e., divisible by 2 without remainder; an odd number is an integer that is not evenly divisible by 2...

 years).

Due to their low value, 1 and 2 lipa coins are rarely used. Croatian National Bank
Croatian National Bank
The Croatian National Bank is the central bank of the Republic of Croatia.HNB was established by the Constitution of Croatia which was passed by the Croatian Parliament on 21 December 1990. Its main responsibilities are maintaining the stability of the national currency, the kuna, and ensuring...

 stated in 2001 that it had no plans for withdrawing the 1, 2 and 5 lipa coins.
Denomination Reverse design
Croatian Latin English translation
1 lipa kukuruz Zea mays Maize
Maize
Maize known in many English-speaking countries as corn or mielie/mealie, is a grain domesticated by indigenous peoples in Mesoamerica in prehistoric times. The leafy stalk produces ears which contain seeds called kernels. Though technically a grain, maize kernels are used in cooking as a vegetable...

2 lipa vinova loza Vitis vinifera Grapevine
Vitis vinifera
Vitis vinifera is a species of Vitis, native to the Mediterranean region, central Europe, and southwestern Asia, from Morocco and Portugal north to southern Germany and east to northern Iran....

5 lipa hrast lužnjak Quercus robur Oak
Pedunculate Oak
Quercus robur is commonly known as the Pedunculate Oak or English oak. It is native to most of Europe, and to Anatolia to the Caucasus, and also to parts of North Africa.-Taxonomy:Q...

10 lipa duhan Nicotiana tabacum Tobacco
Nicotiana tabacum
Nicotiana tabacum, or cultivated tobacco, is a perennial herbaceous plant. It is found only in cultivation, where it is the most commonly grown of all plants in the Nicotiana genus, and its leaves are commercially grown in many countries to be processed into tobacco. It grows to heights between 1...

20 lipa maslina Olea europaea Olive
Olive
The olive , Olea europaea), is a species of a small tree in the family Oleaceae, native to the coastal areas of the eastern Mediterranean Basin as well as northern Iran at the south end of the Caspian Sea.Its fruit, also called the olive, is of major agricultural importance in the...

50 lipa velebitska degenija Degenia velebitica Degenia
Degenia
Degenia is a monotypic plant genus in the mustard family containing the single species Degenia velebitica . The yellow-flowered plant is endemic to Velebit and Kapela mountain ranges, and has become a symbol of the region.Discovered by Dr...

1 kuna slavuj Luscinia megarhynchos Nightingale
Nightingale
The Nightingale , also known as Rufous and Common Nightingale, is a small passerine bird that was formerly classed as a member of the thrush family Turdidae, but is now more generally considered to be an Old World flycatcher, Muscicapidae...

2 kune tunj Thunnus thynnus Tuna
Northern bluefin tuna
The Northern bluefin tuna is a species of tuna in the Scombridae family. It is variously known as the Atlantic bluefin tuna, giant bluefin tuna and formerly as the tunny. Atlantic bluefin are native to both the western and eastern Atlantic Ocean, as well as the Mediterranean Sea...

5 kuna mrki medvjed Ursus arctos Brown Bear
Brown Bear
The brown bear is a large bear distributed across much of northern Eurasia and North America. It can weigh from and its largest subspecies, the Kodiak Bear, rivals the polar bear as the largest member of the bear family and as the largest land-based predator.There are several recognized...



A number of commemorative designs have also been issued for circulation, see Commemorative coins of the Croatian kuna
Commemorative coins of the Croatian kuna
Commemorative coins of the Croatian kuna have been issued since 1994....

.

Banknotes

Croatian kuna banknotes currently in circulation, as of 28 December 2009 (www.hnb.hr)
Image Value Dimensions Main Colour Description Date of
Obverse Reverse Obverse Reverse Watermark printing issue
5 kuna 122 × 61 mm Green Fran Krsto Frankopan
Fran Krsto Frankopan
Fran Krsto Frankopan was a Croatian baroque poet, nobleman and politician in the 17th century. He is remembered primarily for his involvement in the failed Zrinski-Frankopan conspiracy.-Early life and poetry:...


and Petar Zrinski
Petar Zrinski
Petar Zrinski was a Croatian Ban and writer. A member of the Zrinski noble family, he was noted for his role in the attempted Croatian-Hungarian rebellion of 1664-1670 which ultimately led to his execution for high treason.-Zrinski family:Petar Zrinski was born in Vrbovec, a small town near...

Old Town fort in Varaždin
Varaždin
Varaždin is a city in north Croatia, north of Zagreb on the highway A4. The total population is 47,055, with 38,746 on of the city settlement itself . The centre of Varaždin county is located near the Drava river, at...

As portrait 7 March 2001 9 July 2001
10 kuna 126 × 63 mm Grey Bishop Juraj Dobrila
Juraj Dobrila
Juraj Dobrila was a bishop and benefactor from Istria who advocated for greater national rights for Croats under Italian rule....

The Pula Arena and the town plan of Motovun
Motovun
Motovun is a village in central Istria, Croatia. The population of the village itself is 531, with a total of 983 residents in the municipality ; 442 of the residents have Italian as their mother language...

As portrait 7 March 2001 18 June 2001
20 kuna 130 × 65 mm Red Ban Josip Jelačić
Josip Jelacic
Count Josip Jelačić of Bužim was the Ban of Croatia between 23 March 1848 and 19 May 1859...

The Eltz Manor
Eltz Manor
Eltz Manor is a castle in Vukovar, Croatia. The 18th century manor is the location of the Vukovar City Museum.The manor was originally built between the period of 1749 to 1751 by the House of Eltz and was gradually extended over time...

 in Vukovar
Vukovar
Vukovar is a city in eastern Croatia, and the biggest river port in Croatia located at the confluence of the Vuka river and the Danube. Vukovar is the center of the Vukovar-Syrmia County...

 and
the Vučedol Dove
Vucedol culture
The Vučedol culture was a Indo-European culture that flourished between 3000 and 2200 BC , centered in Syrmia and eastern Slavonia on the right bank of the Danube river, but possibly spreading throughout the Pannonian plain and western Balkans...

As portrait 7 March 2001 16 August 2001
50 kuna 134 × 67 mm Blue Ivan Gundulić
Ivan Gundulic
Ivan Franov Gundulić is the most celebrated Croatian Baroque poet from the Republic of Ragusa. His work embodies central characteristics of Roman Catholic Counter-Reformation: religious fervor, insistence on "vanity of this world" and zeal in opposition to "infidels." Gundulić's major...

The Old City of Dubrovnik
Dubrovnik
Dubrovnik is a Croatian city on the Adriatic Sea coast, positioned at the terminal end of the Isthmus of Dubrovnik. It is one of the most prominent tourist destinations on the Adriatic, a seaport and the centre of Dubrovnik-Neretva county. Its total population is 42,641...

As portrait 7 March 2002 25 November 2002
100 kuna 138 × 69 mm Reddish-brown Ban Ivan Mažuranić
Ivan Mažuranic
Ivan Mažuranić was a Croatian poet, linguist and politician—probably the most important figure in Croatia's cultural life in the mid-19th century...

 and the Baška tablet
Baška tablet
Baška tablet is one of the first monuments containing an inscription in the Croatian language, dating from the year 1100.The tablet was discovered by scholars in 1851 in the paving of the Romanesque church of St. Lucy in Jurandvor, near Baška, on the island of Krk...

St. Vitus Cathedral
St. Vitus Cathedral in Rijeka
The St. Vitus Cathedral is a Roman Catholic cathedral in Rijeka, Croatia.The Church of St. Vitus was in Middle Ages a small and one-sided, romanesque church dedicated to the patron saint and protector of Rijeka. It had a semi-circular apse behind the altar, and covered porch. With the arrival of...

 in Rijeka
Rijeka
Rijeka is the principal seaport and the third largest city in Croatia . It is located on Kvarner Bay, an inlet of the Adriatic Sea and has a population of 128,735 inhabitants...

As portrait 7 March 2002 3 June 2002
200 kuna 142 × 71 mm Brown Stjepan Radić
Stjepan Radic
Stjepan Radić was a Croatian politician and the founder of the Croatian Peasant Party in 1905. Radić is credited with galvanizing the peasantry of Croatia into a viable political force...

The old army command building in Tvrđa, Osijek
Osijek
Osijek is the fourth largest city in Croatia with a population of 83,496 in 2011. It is the largest city and the economic and cultural centre of the eastern Croatian region of Slavonia, as well as the administrative centre of Osijek-Baranja county...

As portrait 7 March 2002 12 August 2002
500 kuna 146 × 73 mm Olive green Marko Marulić
Marko Marulic
Marko Marulić |Split]], 18 August 1450 – Split, 5 January 1524) was a Croatian national poet and Christian humanist, known as the Crown of the Croatian Medieval Age and the father of the Croatian Renaissance. He signed his works as Marko Marulić Splićanin , Marko Pečenić, Marcus Marulus ...

Diocletian's Palace
Diocletian's Palace
Diocletian's Palace is a building in Split, Croatia, that was built by the Roman emperor Diocletian at the turn of the fourth century AD.Diocletian built the massive palace in preparation for his retirement on 1 May 305 AD. It lies in a bay on the south side of a short peninsula running out from...

 in Split
Split (city)
Split is a Mediterranean city on the eastern shores of the Adriatic Sea, centered around the ancient Roman Palace of the Emperor Diocletian and its wide port bay. With a population of 178,192 citizens, and a metropolitan area numbering up to 467,899, Split is by far the largest Dalmatian city and...

As portrait 31 October 1993 31 May 1994
1000 kuna 150 × 75 mm Bluish-grey Ante Starčević
Ante Starcevic
Ante Starčević , was a Croatian politician and writer whose activities and works laid the foundations for the modern Croatian state.His works are base for Croatian nationalism, he is often referred to as Father of the Fatherland by Croats.-Life:...

Statue of King Tomislav and the Zagreb Cathedral
Zagreb cathedral
Zagreb Cathedral on Kaptol is the most famous building in Zagreb, and the tallest building in Croatia. It is dedicated to the Holy Virgin's Ascension and to St. Stephen and St. Ladislaus. The cathedral is typically Gothic, as is its sacristy, which is of great architectonic value...

As portrait 31 October 1993 31 May 1994
Commemorative issues in circulation
10 kuna (10th anniversary issue) 126 × 63 mm Grey Bishop Juraj Dobrila
Juraj Dobrila
Juraj Dobrila was a bishop and benefactor from Istria who advocated for greater national rights for Croats under Italian rule....

The Pula Arena and the town plan of Motovun
Motovun
Motovun is a village in central Istria, Croatia. The population of the village itself is 531, with a total of 983 residents in the municipality ; 442 of the residents have Italian as their mother language...

As portrait 30 May 2004 24 May 2004

See also

  • Independent State of Croatia kuna
    Independent State of Croatia kuna
    The kuna was the currency of the Independent State of Croatia in the period between 1941 and 1945 during World War II. The word "kuna" means "marten" in Croatian and the same word is used for the current Croatian kuna currency. This kuna was subdivided into 100 banica...

  • Reproduction of Croatian currency
    Reproduction of Croatian currency
    -Rules:The Bank issued an act regarding this matter on February 28, 2002. The decisions most relevant to reproductions of Croatian banknotes are listed in Article 10, titled Reproduction, which states the following:...

  • Economy of Croatia
    Economy of Croatia
    Economy of Croatia is a service-based economy with the tertiary sector accounting for 70% of total gross domestic product . Croatian GDP in 2010 was 335.5 billion Croatian Kuna and contracted by 1.4% year-on-year...


External links


|-
| colspan="3" | Note: competing Krajina dinar
Krajina dinar
The dinar was the currency in Republic of Serbian Krajina between 1992 and 1994.-History:There were three distinct dinars. The first was introduced in July 1992 in parallel with the new Yugoslav dinar of that year, to which it was equal...

 was issued on parts of Croatian territory
Republic of Serbian Krajina
The Republic of Serbian Krajina was a self-proclaimed Serb entity within Croatia. Established in 1991, it was not recognized internationally. It formally existed from 1991 to 1995, having been initiated a year earlier via smaller separatist regions. The name Krajina means "frontier"...

between 1992 and 1995
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