January 7, 2023 - Euro Croatia: almost a week after Croatia's entry into the euro area, the transition to the euro is progressing well in the initial phase, according to a survey by the European Commission (EC), the executive body of the EU, which assesses this event as an important turning point for Croatia, the euro area and the entire union.

As 24Sata writes, they report that the majority of cash payments (51%) in euros in stores were made on January 5.

"In the majority of transactions, as many as 93%, the change was returned to consumers exclusively in euros, 35% of the surveyed Croatian citizens stated that they only carry euro banknotes, and 36% of them only euro coins", according to a survey carried out by the EC representative office in Croatia.

According to the Eurobarometer survey, on January 5, six percent of the 199 respondents had Croatian kunas in their wallets, five percent mostly kunas, 19 mostly euros, 35 had only euros, 27 percent had half kunas and half euros, and eight percent had no banknotes.

The withdrawal of kuna banknotes and coins from circulation began in December 2022, and by December 31, 55% of kuna banknotes and a third of kuna coins had already been withdrawn from circulation.

The EC states that the Croatian retail sector copes well with the transition process and the parallel use of two currencies.

"No major problems with waiting in lines or problems with the cash registers were reported. Conversion at ATMs also takes place smoothly, with 70% of all ATMs in Croatia already distributing euro banknotes from the first hour of the new year. The commission pointed out that the number and scope of withdrawals remained at levels comparable to those before the transition to the euro".

The commission stated that it will continue to monitor Croatia's transition to the euro and will continue to measure the experience of Croatian citizens in connection with the transition to the European currency in the coming weeks.

For more, make sure to check out our dedicated Lifestyle section.

January 5, 2023 - Euro Croatia tackling dirty play - at today's session, the government adopted a conclusion calling on everyone, from retailers to restaurateurs and craftsmen, to return their prices to the level before the conversion to the euro. Prime Minister Andrej Plenković pointed out that such price increases represent dirty play and profiteering.

"We warned there would be a negligible price increase; it was like that elsewhere. But what we are witnessing is something else. This is unjustified, pure profiteering, dirty play, and we will strongly oppose it with the Government's measures in the coming period," the PM said, as reported by 24Sata.

He called on all competent institutions to expose unfair practices from the State Inspectorate and Tax and Customs Administration.

"We will do that, and when I say measures so that there are no dilemmas, I also mean subsidies and other taxes. The government will not sit back and watch this without a reaction, and everyone who thinks that in this situation they can cast a shadow from an extremely positive and useful thing with their irresponsible business policy or harm the strategic success of the state, the government, society and all of us, they will not succeed", he said.

The Prime Minister called on all business entities to distance themselves from those who unjustifiably raised prices.

"With the conclusion of the Government, everyone is invited to immediately revise the prices to those before January 1, 2023, at the end of December. All departments are tasked to strengthen supervision, the Ministry of Economy to take all measures to collect complete and accurate information on price monitoring, the Ministry of Agriculture to collect food and product prices", said Plenković.

He stated that the purpose of the euro is not for someone in a crisis to get rich unjustifiably at the expense of citizens.

"We will not welcome any phenomena that lead to an increase in inflation, but we will sanction and fight against it with all mechanisms to protect consumers and ensure fair business practices," he stressed.

"In this period, all authorities will contribute to uncovering unfair practices. The state inspectorate, and the tax and customs administration, will be given a specific task to act as soon as they see irregularities - said the prime minister and called on everyone to revise the prices and return them to what they were at the end of December - he added.

Minister Davor Filipović presented the Government's measures against price increases.

"All business entities, including credit institutions and other financial service providers, and all those who have raised prices against the law are obliged to revise the retail prices of their goods and services and that they be determined by the price level as of 31 December", said Filipović.

"The inspectorate, tax, customs, ministries, CNB... are tasked to implement increased supervision of entities within their jurisdiction without delay", he said, adding that the Ministry of Economy will monitor prices and offer price comparisons at various entities.

He called on the Ministry of Agriculture to immediately collect the prices of agricultural products.

Chief State Inspector Andrija Mikulić was also present at the Government session and reported that they had intensified monitoring of received consumer complaints. In terms of dual pricing, before introducing the euro, inspectors found 1,744 violations of the law from September to the end of 2022. From January 2 to 4, the inspection was carried out by more than 200 inspections in trade and service industries.

"Bearing that business entities freely set the price, inspections have begun based on the applications received. From January 2 to 4, the inspection carried out over 200 inspections in the area of retail trade, including bakeries and service industries. These were mainly hairdressing services, body care, and maintenance services. According to the first results, an increase in prices was determined. In the shops, a price increase of 3 to 19 percent was recorded for chocolate, baked products, beer, coffee, and chocolate... We will determine if this is unjustified. If this is established, misdemeanor measures will be taken", said Mikulić.

"Most submissions concerned bakeries, hairdressers, and body care services, where price increases have been confirmed. In the shops, some subjects raised prices from 3 to 19 percent for chocolate, bakery products, beer, butter, sour cream, toilet paper, coffee, and other items. If they determine that it was unjustified, in accordance with the law on consumer protection, they will be prohibited from engaging in unfair practices and will be subject to misdemeanor measures. In service activities, the price increase there, unfortunately, ranges from 10 to even 80 percent", said Mikulić.

In the last two days, out of 306 inspections, 96 violations were found, which is 31 percent, and the inspections continue.

For more, make sure to check out our dedicated Lifestyle section.

January 3, 2023 - Euro Croatia is here. It is its third day. And Croatian citizens have started complaining about massive price increases. Social networks are full of various examples of price increases after the introduction of the euro, whether it is for shops, various services such as hair salons, or parking fees.

As Index writes, what most of the complaints have in common is the rounding up. So, for example, if something cost HRK 13, it is possible that someone "rounded" it to two euros, which is significantly more expensive.

A group was opened on Reddit yesterday, where hundreds of people write about price increases and give examples. "Men's haircut at a local hairdresser cost HRK 60. I came a couple of days ago. He said he would round up to 10 euros to make it easier for both of us," wrote one user. "Coffee with milk in the cafe where I've been going all my life jumped from 12 to 15 kunas," wrote another.

Index received photos from shops by users claiming that the same things cost significantly less just two days ago. Index is currently working on verifying those allegations.

>> If you suspect an unjustified increase in the price of a product or service, contact them at This email address is being protected from spambots. You need JavaScript enabled to view it.

Prime minister's meeting yesterday

Yesterday afternoon, Prime Minister Andrej Plenković convened a meeting with competent ministers and inspection authorities.

As the Prime Minister stated in a message published on Twitter, he held a meeting with competent ministers and representatives of the Tax Administration, Customs Administration, and the State Inspectorate related to further activities to protect consumers from unjustified price increases.

"The introduction of the euro is not a reason to increase the prices of goods and services," said Plenković.

Filipović called an urgent meeting. 

At Plenković's meeting with the ministers and the heads of the Tax Administration, Customs Administration and the State Inspectorate, it was agreed that Economy Minister Davor Filipović would invite representatives of retail chains to the meeting.

The meeting, unofficially confirmed to Index by a source close to the government, should be held today.

"The consumer must not be in a worse position than they would have been if the euro had not been introduced."

What is considered an unjustified price increase that caused Plenković to react? Here is what is written on the official government website Euro. hr.

"According to the principle of consumer protection, it follows that the consumer must not be in a less favourable financial position than he would have been if the euro had not been introduced. As in all other situations, in the period of dual pricing, it is necessary to correctly and accurately apply the rules of conversion and rounding, which means that the price must be correctly calculated and stated, i.e. the informative calculation in the currency that was or will be official must accurately reflect the price charged to the consumer and must not be rounded up or down.

The ratio of expressed prices in kuna and euro must correspond to a mathematical operation, i.e., the rules of conversion and rounding by applying a fixed conversion rate in its full numerical amount."

"The mere introduction of the euro must not be and is not a justified reason for increasing product prices."

The page states that this means explicitly that from the beginning of the period of mandatory dual pricing until the day of the introduction of the euro, for the purpose of informing consumers, the price charged in kuna must be recalculated and displayed in euros, with the correct application of the fixed conversion rate and the rules for recalculation and rounding.

The key principle of the introduction of the euro is consumer protection, and the consumer must not be in a financially less favourable position than he would have been if the euro had not been introduced. The mere introduction of the euro must not be and is not a justified reason for increasing product prices," the EURO HR website concludes.

Knežević: People complain the most about coffee price increases

Index asked the president of the Consumer Protection Association, Ana Knežević, what information she had about price rounding and the resulting price increases.

"We have concrete information; people are calling and complaining. The highest price increases are around coffee. We received a report that in one place coffee is two kuna more expensive because of this rounding of prices," Knežević told us.

"This happened in all the countries that entered the eurozone; we saw it in Slovenia, Austria, Italy... We warned that Croatia would not be an exception. In the mentioned countries, too, coffee prices changed the most. In our country, we now see that there were price increases in bakeries as well".

For more, make sure to check out our dedicated Lifestyle section.

January 1, 2023 - Croatia officially became the 20^th member of the eurozone, a monetary union member of the European Union (EU), making the Croatian currency and the only legal tender the euro, the second most important world currency.

As Index writes, on the first day of the New Year, Croatia became the 20^th member of the euro area, and the euro became the official Croatian currency and legal tender in Croatia. The previous eurozone expansion took place in 2015 when Lithuania became a member.

Minister of Finance Marko Primorac and CNB Governor Boris Vujčić met in front of CNB. Minister Marko Primorac commented on the introduction of the euro.

"Croatia has joined the circle of the most developed countries in the world. This was by no means an easy process. It took a long time; a number of people made significant efforts," he said. "The euro will provide us with some security in these turbulent times," he said and added that the euro will enable further growth and development.

"Over 95 percent of ATMs are stocked with euros; now the transition process is underway. So we can relax and enjoy ourselves," said Primorac.

"Kuna is going down in history; it served us well."

Then Boris Vujčić took the floor.

"I am thrilled because this year we finished the project that we started five years ago. We created the Eurostrategy then, and I must say that it did not always look like we would be in the Eurozone on January 1, 2023. This is a record timeline; it could not have been faster," he said.

"Croatia is the 20^th country that uses the second most important currency in the world," said Vujčić and listed the advantages of the euro. "It is not a magic wand that will solve many of our problems, but it will help us be a richer country," Vujčić said.

"Kuna is going down in history," Vujčić said. "The kuna served us very well. It was stable since we introduced the kuna, we had low inflation, it will go down in history with pride, we will only remember it for the good," he said.

After that, at a nearby ATM, Minister Primorac withdrew the first euros from the ATM.

For more, make sure to check out our dedicated Lifestyle section.

December 30, 2022 - After all Croatian citizens deposit their Croatian kuna and lipa in the banks, there will be enough money in physical form to pave 50 kilometres of road or mark the way from the bottom to the top of Mount Everest. But, of course, the banks will not do that, and this huge physical mass of money will be used for isolation purposes. For reference, the estimate is that there will be 5,200 tonnes of coins, which is the weight of 124 Zagreb trams. There will also be more than 500 million banknotes.

As 24Sata writes, in order not to further pollute the environment by burning banknotes that contain colouring, they will not be burned but shredded into pieces smaller than a millimeter. They will then be used as insulation in public construction works. After 28 years, which is how long the Croatian kuna has served in Croatia, it will be concreted into the country's history, literally. 

"When it's replaced with the euro, there will be the same amount of money in circulation as when the kuna was around. So, for example, the number of 100  Croatian kuna banknotes will be replaced by a proportional number of 10 and 20 euro banknotes", explains Tihomir Mavricek, the executive director of the cash sector of the CNB for Hina.

Fun fact, the Croatian kuna proved to be a fairly safe banknote that was not often counterfeited, as confirmed by the CNB. They explain that 200 kuna denominations were the most counterfeited, about a hundred per year. For example, in 2019, 506 banknotes were counterfeited, 157 in 2020, and 198 in 2021. For comparison, 4,280 euro banknotes were counterfeited in 2019, 237 in 2020, and 228 in 2021. Counterfeit money directly damages the person who receives such a note.

The withdrawal of kuna surpluses began in September. Around that period after each tourist season, surplus kuna is usually withdrawn into the vaults. The amount has increased this year. The kuna will be withdrawn gradually, banknotes can be changed indefinitely, and coins for three years. The CNB clarified that they know how much money they will print and mint each year. The cash cycle of money in the CNB starts from planning the needs for banknotes and coins for the following year. It depends on many factors, such as inflation, expected growth rates, etc.

Then the CNB orders money from printing shops and places where kuna and lipa are minted. From the CNB vault, it is shipped by trucks accompanied by special agents to eight cash centres in Croatia. Banks are supplied with cash from these centres, planning their needs daily depending on client announcements and the needs of the ATM network. Over the past 11 years, the amount of money in circulation has doubled and reached a level between HRK 41 and 42 billion. Mavricek says this was influenced by the increase in the standard and accumulated inflation. In recent months, businesses and citizens have had around HRK 30 billion in circulation. It will all become insulation.

For more, make sure to check out our dedicated Lifestyle section.

December 15, 2022 - Croatia, one of the countries with the most widely developed ATM network, is gradually adapting to a new currency due to the introduction of the euro on the first day of the next year. The arrival of the euro in Croatia is affecting the ways in which cash will be available in the transition period.

As N1 writes, ATMs of commercial banks are the most important channel for the supply of cash in kuna in the Republic of Croatia and will also be the key channel for the supply of citizens with euro banknotes.

They should be adapted so that from January 1, 2023, they pay out exclusively in euros, while banks are obliged to ensure adequate availability of the Croatian kuna covering all of the ATM network until December 31, 2022.

ATMs are being gradually temporarily shut down during December and early January to allow the banks to adjust their ATM network for euro withdrawals by January 15, 2023.

In order for this adjustment process not to negatively affect the availability of cash in kuna in the period until the end of December 2022 or the availability of euro notes after January 1, 2023, in the period from December 15, 2022, to January 15, 2023, a few changes will be introduced to the ATM network in Croatia. The banks will temporarily abolish fees for cash withdrawal transactions with debit cards at ATMs outside the ATM network of a particular bank (at ATMs of other banks) in the Republic of Croatia.

Thus, from December 15 to 31, the Croatian kuna can be withdrawn free of charge at any ATM in Croatia, while from January 1 to 15, euros will be available for withdrawal from ATMs free of charge as well.

Considering the density of the network of ATMs in Croatia, it should provide citizens with a high degree of availability of cash in Croatian kuna until December 31, 2022, and cash in euros after the first day of the new year 2023.

The Croatian Bank Association has published an interactive map of all available ATMs during this period.

For more, make sure to check out our dedicated Lifestyle section.

December 13, 2022 - Euro Croatia: from the 1st of January 2023, the official currency in Croatia will be the euro. In the first two weeks of next year, Croatian citizens will be able to pay their bills in kuna, regardless of whether they are issued in kuna or euros.

As Poslovni reports, as soon as we enter the New Year, the official currency in Croatia becomes the euro, which means that payments should be made in euros, but citizens are given a deadline for adjustment in the first two weeks of 2023, during which they can still pay in kuna. The change, however, will be in euros during this transition period. Card payment is recommended as much as possible.

From January 15, the euro will be the only accepted currency, and the kuna will definitely be out of circulation. Regarding the payment of utilities, for example, the Croatian Banking Association states that the currency specified on the invoices should be used to pay.

"Utility bills for December will be issued in January 2023 and will be in euros. For all payment slips that citizens have received in advance and on which the amount of payment is in kuna, and will be paid after the introduction of the euro, the bank is obliged to make the payment in euro in the amount corresponding to the amount of kuna specified on the payment order. The bank will act in this way until July 1 next year," HUB told Novi list.

The Financial Agency (Fina) confirmed yesterday that the above applies to Fina as well.

"After January 1 and until June 30, 2023, Fina will receive orders issued in kuna and will execute them in euros, with the application of the conversion rate. Also, during the dual circulation period, i.e. in the first two weeks of January 2023, citizens can pay orders in kuna, regardless of whether they are issued in kuna or euros," explains Fina.

According to this, it turns out that the criterion is the moment in which the citizens decide to pay: if they pay by January 14, that can be done using the Croatian kuna, and if it's after that, regardless of when the bill was issued and in which currency, it must be in euros. If the citizens do not have euros, they can exchange kuna for euros in several ways. As far as the conversion of kuna into euros is concerned, in Croatia, the bank association points out that throughout 2023, banks, Fina and Croatian Post will exchange up to 100 kuna notes and 100 kuna coins per transaction at the counters for free, to all citizens at the same exchange rate.

For more, make sure to check out our dedicated Lifestyle section.

A practical money guide for the tourist in Croatia, including foreign exchange tips, using kuna abroad and information about Croatian coins and banknotes.

The unit of currency in Croatia is the Croatian kuna, which was introduced to the newly independent country in 1994, replacing the Yugoslav dinar at a rate of 1 kuna for 1000 dinar. Kuna literally means 'marten', a throwback to earlier times when the currency of the region was animal skins and marten pelts were considered valuable. One kuna is sub-divided into 100 lipa (which means linden tree).

Foreign Currency Exchange and Buying Kuna

Planning a holiday to Croatia requires some currency management. Kuna can be purchased in foreign banks and at selected bureau de change prior to travel, but the exchange rates tend to be worse than those available on arrival in Croatia.

Croatian banks dispense kuna to foreign cards from their cash machines, but a slightly better rate is sometimes obtainable by buying the currency over the counter with a card. Cash withdrawal per ATM transaction vary from bank to bank, but are in the region of 1,600 - 2,000 kuna. Dollars, Euro and Pound sterling are all widely accepted in the banks for cash exchange. Certain foreign currencies, such as UAE Dirhams, for example, cannot be exchanged.

The most common foreign currency in use in Croatia is the Euro, which can be used instead of the local currency in many cases, especially in the tourist areas on the coast, where bars, restaurants and even supermarkets will accept Euro on request. The exchange rate tends to be slightly lower, however, with 1 euro converted at 7 kuna, whereas the normal exchange rate fluctuates between 7.1 and 7.5.

Using Kuna Outside Croatia

Although the Croatian kuna is not a 'hard' currency as such, it is widely accepted in Western Bosnia, in the ethnically Croat region of Herzegovina. This includes the coastal town of Neum, through which travellers from Split to Dubrovnik must pass - with prices lower in Bosnia, Neum is a good place to stock up on supplies. The generally accepted exchange rate is 4 kuna to the Bosnian Mark, about 10% higher than the rate in the bank.

Croatian Kuna Exchange Rates

The kuna is closely aligned to the euro and the exchange rate between the two currencies rarely moves more than 3% from 7.3 kuna to the euro. The weakening of the pound is reflected in a 2002 exchange rate of 11.5 kuna dipping to below 8 kuna in 2010. It is currently around 8.5. The US dollar fluctuates between 5 and 6 kuna to the dollar.

Croatian Coins and Banknotes

Croatian coins coming in the following denominations - 5, 2 and 1 kuna, and 1, 2, 5, 10, 20 and 50 lipa. A mildly interesting curiosity about Croatian coins is that those minted in odd years are named after plants and animals in Croatian, whereas those in even years are named in Latin.

Bank notes reflect glorious characters of Croatian history, with towns of Croatia on the back (in brackets below):

1000 kuna Ante Starcevic (Statue of King Tomislav and Zagreb Cathedral)
500 kuna Marko Marulic (Diocletian's Palace in Split)
200 kuna Stjepan Radic (The army buiding in Tvrdja, Osijek)
100 kuna Ban Ivan Mažuranic (St. Vitus Cathedral in Rijeka)
50 kuna Ivan Gundulic (Old City of Dubrovnik)
20 kuna Ban Josip Jelacic (Eltz Manor in Vukovar)
10 kuna Bishop Juraj Dobrila (Pula Arena and Town Plan of Motovun)
5 kuna Fran Krsto Frankopanand Petar Zrinski (Old Town Fort in Varaždin)

Using Credit Cards

Credit cards are widely accepted, but they are not available in all restaurants, so you are advised to check before you dine if you plan to pay by card.

We recommend using MyTravelMoney.co.uk for comparing croatian kuna exchange rates. The site updates with live travel money rates every 5 minutes. You can save up to 10% versus buying last minute at the airport bureaus.