Croatian kuna

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The kuna is the currency of Croatia (currency code HRK). One kuna equals 100 lipa. The word kuna means "marten" in Croatian, while the word lipa means "linden (lime) tree". It has no relation to the various currencies named "koruna"; it is based on the use of marten pelts as units of value in medieval trading.

Contents

1 History

1.1 Earlier Usage
1.2 Kuna from 1939-1945
1.3 Kuna in modern Croatia 1994-

2 Coins
3 Banknotes
4 See also
5 External links

History

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 1/25 (later 1/50) gryvna of silver.

In the Middle Ages many foreign monies were used in Croatia, but since at least 1018 a home currency was in use. Between 1260 and 1380 the Croatian Viceroys were making a marten-adorned silver coin. However, the diminishing autonomy of Croatia within the Croatia-Hungarian Kingdom led to the gradual disappearance of that currency.

Kuna from 1939-1945

The marten currency, Kuna, reappeared in 1939 when the Banovina of Croatia, established within the Yugoslav Monarchy, considered issuing its own money.

Croatian kuna banknotes were introduced in the NDH on 26.7.1941. The kuna was withdrawn from circulation in July 1945, replaced by the 1945 version of Yugoslav dinar at a rate of 1 dinar = 40 kuna.

Banknotes Issued:

26.5.1941 dated 50,100,500,1000 Kn
30.8.1941 dated 10 Kn
25.9.1942 dated 50 Ban, 1 and 2 Kn
15.7.1943 dated 5000 Kn
1.9.1943 dated 1000 and 5000 Kn

Banknotes not issued:

1.9.1943 dated 100 and 500 Kn
15.1.1944 dated 20 and 50 Kn

Banknotes in preparation but not printed:

1.9.1943 dated 10000 Kn

The exchange rate was tied to the German RM but with dual exchange rates, one fixed, the other stimulated RM rate:

1942 37.5 Kn
1943 40 Kn
1944 40 Kn
1945 120 Kn to the end of the war

Kuna in modern Croatia 1994-

The kuna was introduced in June 1994 after the transitional period following Croatian independence in the 1991 during which the Yugoslav dinar was replaced with a Croatian dinar. The exchange rate between dinar and kuna was 1 kuna = 1000 dinara.

The choice of the name kuna was controversial for the Serb minority in Croatia, as this currency name had been used by the World War II Independent State of Croatia. The Croatian government pointed to the continuity in the historical use of marten pelts, the use of a marten adorned coin by Croatian viceroys & the consideration of the Kuna during the Banovina of Croatia in the first Jugoslavia. Detractors attempted to make a connection between modern Croatia & the WWII extremist regime. An alternative proposition for the name of the new currency was kruna (literally crown) after the Austro-Hungarian krone. However, that proposition was challenged on the same basis as the previous, since the kruna was proposed to be divided in 100 banica. Such criticisms are a red herring considering the historical association between the kuna & the medium of exchange used over the centuries in Croatia.

The kuna is handled by the Croatian National Bank and minted by the Croatian Monetary Institute.

The self-proclaimed Serbian entity Republic of Serbian Krajina did not use the Croatian kuna or the Croatian dinar. Instead, they issued their own dinar until Krajina was integrated back to Croatia in 1995.

Coins

Denomination	Obverse Design
1 lipa	Maize (zea mays)
2 lipe	Grape Vine (vitis vinifera)
5 lipa	Oak (quercus robur)
10 lipa	Tobacco (nicoliana tabacum)
20 lipa	Olive (olba europaea)
50 lipa	Degenia (degenia velebitica)
1 kuna	Nightingale (luscinnia megarhynchos)
2 kune	Tuna (thunnus thynnus)
5 kuna	Brown Bear (ursa arctos)

Banknotes

Denomination	Obverse Design	Reverse Design
5 kuna	Petar Zrinski and Fran Krsto Frankopan	Varaždin's Old Town fortress
10 kuna	Juraj Dobrila	Arena colosseum in Pula
20 kuna	Josip Jelačić	The castle of Count Eltz in Vukovar
50 kuna	Ivan Gundulić	Dubrovnik; historic, UNESCO-protected town core
100 kuna	Ivan Mažuranić	Rijeka; church of St. Vid
200 kuna	Stjepan Radić	Osijek; the building of the High Command
500 kuna	Marko Marulić	Split; Diocletian's Palace
1000 kuna	Ante Starčević	Statue of King Tomislav and the Zagreb Cathedral

External links

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