December the 31st, 2022 - The Croatian kuna is set to enter the history books tomorrow, after being in use since May 1994 in its modern (current) form. As we prepare to bid farewell to the Croatian national currency, let's look back on its history.

Subdivided into those irritating little lipa coins, 100 of them to be exact, the Croatian kuna (coded as HRK) is minted at the Croatian mint and sent out into the country by the Croatian National Bank (CNB). The design of the Croatian kuna banknotes were by Vilko Ziljak and Miroslav Sutej, and the first series of these banknotes were dated on October the 31st, 1993. There was once even a five kuna note, which has been withdrawn since 2007.

Meaning marten (a mink type creature), the kuna's roots go back to the exchanging of marten pelts (furs, skins) back in medieval times as a form of payment for goods and services. Lipa, those small silver and golden coins which end up in everyone's back pockets and left on cafe tables because nobody really knows what to do with them, draw their name from the linden tree. These trees were planted in and around Croatian market places during the early modern period.

A brief look into the deeper history of the kuna reveals the importance of martens and their pelts back during, you guessed it, Roman times, where these pelts were collected as a form of tax. These pelts were sought after and carried a very high value, and the Croatian word, marturina, comes from precisely this. Foreign currencies and means of trade and payment were in use across Croatia for many years, but by the time 1939 rolled around, the Banovina of Croatia planned to introduce its own currency alongside Yugoslavia's dinar. A couple of years later in 1941, under Ustasa rule as the Independent State of Croatia, the Croatian kuna was born, then called the Independent State of Croatia kuna. This was the means of payment in Croatia until 1945, when it was replaced with the dinar.

Fast forward to the turbulent 1990s, Croatia was engulfed in the strife of the breakup of the well and truly failed experiment of Yugoslavia and the Croatian War of Independence broke out (Homeland War/Domovinski rat). Back then, the Croatian dinar, a somewhat short-lived currency was in circulation here, introduced in 1991 and lasting only until the final month of 1994. Then came the Croatian kuna as we know it, tied to the German mark from the very beginning.

Of course, there were those who weren't fans of calling it the Croatian kuna because the name was coined (no pun intended) by the Independent State of Croatia and was in circulation during 1941-1945, a time many people preferred to try and forget. Other names were suggested as a result, including the banica (the wife of the viceroy) and the kruna (crown). The idea that the kuna would echo back to Ustasa rule and as such be a controversial name was dismissed, and the Croatian kuna remained with its rightful title. 

The CNB's policy was keeping the Croatian kuna's fluctuations with the bloc's single currency stable, as the initial expectations for Croatia adopting the euro officially, which was four years after joining the EU in July 2013, didn't come to fruition.

Croatia adopted the Croatian kuna as we know it today in May 1994, and it has remained in circulation ever since. It will continue being permitted as legal tender until mid January, 2023, but it is officially being scrapped tomorrow, on the 1st of January, 2023, making way for the euro as the country's new currency. Croatia fulfilled all of the many requirements for Eurozone entry this year, being given the green light not only for Eurozone accession but also for Schengen entry. No country has ever managed to enter both at the same time, on the very same day.

For some, the loss of the Croatian kuna marks a loss of identity and hard-won monetary independence, and for others, the introduction of the euro means more financial and economic stability, less people who have taken out loans being victims of exchange rate fluctuations, and more protection during crises. Whichever camp you fall into, Croatia abandoning the kuna for the euro is certainly an enormous moment in history for the little country that not only could, but consistently has, in the face of whatever has been thrown at it.

For more, check out our politics 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 22, 2022 - From the 1st of January 2023, the official currency in Croatia becomes the euro. Croatian kuna, the currency in use at the moment, will slowly go out of circulation. There will be a transition period of 15 days between 31 December 2022 and 15 January 2023, during which it will be possible to use both the euro and Croatian kuna; however, the change will be returned in euro whenever possible.

After having issued the first versions of Croatian euro coins, which are sold in post offices and Fina in Croatia, the Croatian National Bank is again presenting a new package of a slightly different nature.

As Index writes, The Croatian National Bank (CNB) has announced that it issued a numismatic set of circulating coins of the Republic of Croatia, kuna and lipa, with the year of minting "2022".

Like the previous sets, this set includes denominations of circulating coins of 5, 2, and 1 kuna, and 50, 20, 10, 5, 2, and 1 lipa, which were put into circulation in the current year.

Unlike previous numismatic sets, in this one, the coins are made using the mint forging technique, and it is issued in an amount of no more than 50,000 sets. The author is the academic sculptor Kuzma Kovačić, and the set was made by the Croatian Mint.

The CNB is informing all citizens who are interested in purchasing the set that two thousand sets will be available at the sales point of the Croatian National Bank, at the address Franje Račkoga 5 in Zagreb, while other quantities can be purchased or pre-ordered via the online store of the Croatian Mint.

It is possible to order or buy a maximum of one set in one transaction.

Orders and purchases based on a previously submitted invoice via the e-mail address This email address is being protected from spambots. You need JavaScript enabled to view it. will not be accepted.

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.

ZAGREB, 20 July 2022 - For May 2022, the average monthly net earnings per person in paid employment amounted to HRK 7,690 kuna, nominally 8.2% higher and really 2.3% lower as compared to the same month last year, the Croatian Bureau of Statistics said on Wednesday.

Month on month, this was a nominal increase of 1.9% and a real one of 0.5%.

The real decline year on year is due to the high inflation, which has exceeded10% in recent months.

Median net earnings for May 2022 amounted to HRK 6,490.

The highest average net monthly earnings for May 2022 were paid in air transport (HRK 12,202) and the lowest in security and investigation (HRK 4,905).

The average monthly gross earnings per person in paid employment for May 2022 (HRK 10,440) were nominally 9.3% higher and really 1.4% lower as compared to the same month last year. Month on month, this was a nominal increase of 1.9% and a real one of 0.5%.

The highest average monthly gross earnings per person in paid employment for May 2022 were in extraction of crude petroleum and natural gas activities, amounting to HRK 17,889, while the lowest earnings were paid in manufacture of wearing apparel activities and amounted to HRK 6,309.

For the period from January to May 2022, the average monthly net earnings per person in paid employment amounted to HRK 7,538, which represented a nominal increase of 6.6%, but a real decrease of 1.2% as compared to the same period of 2021.

(€1 = HRK 7.5)

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February the 22nd, 2022 - As Croatia's accession to the Eurozone approaches, special motif kuna in gold and silver will be issued by the Croatian National Bank (CNB/HNB) showcasing the Dalmatian, a much loved dog breed which originates from Croatia's gorgeous Dalmatian coast.

It won't be long before the Croatian national currency, the kuna, is rendered invalid and sent to the history books as the country enters the Eurozone, a move it had to promise to make in order to gain EU accession. The only countries which didn't have the make that promise and enjoyed opt-outs were Denmark and the United Kingdom. 

As Poslovni Dnevnik writes, the author of the conceptual and artistic design of these special motif kuna gold and silver coins is Nikola Vudrag, and the coin which celebrates the clownish and much loved Dalmatian dog breed was made in the Croatian Mint.

The Croatian National Bank will issue a gold special motif 1000 kuna coin in a quantity of not more than 101 pieces, another gold special motif 250 kuna coin in a quantity of not more than 2,000 pieces and a silver 20 kuna coin in a quantity of not more than 500 pieces. Back in November 2021, the CNB issued two gold coins and a silver coin with the same special motif.

The sale of these gold and silver coins will be performed by the Croatian Mint, and the initial selling price is expected to be around 16,000.00 kuna without VAT for the first 1000 kuna coin, and about 3,800.00 kuna without VAT for a gold 250 kuna coin.

The initial selling price for the silver 20 kuna coin will be around 1,592.00 kuna without VAT. The final selling price of gold and silver special motif kuna coins will depend on the movement of gold and silver prices on the open market as time goes on.

Those interested can purchase these commemorative coins as of now, and more about ordering and purchasing them can be found on this website.

For more, check out Made in Croatia.

February 6, 2022 - The Croatian National Bank is consulting with legal experts about the potentially stolen Croatian euro coin kuna design by Stjepan Pranjković, which is oddly similar to a photograph of a kuna animal found on the Internet by British photographer Iain H Leach.

The CNB will publish its comment on Monday, writes Večernji List.

The author of the photograph, Iain H. Leach, was not asked for permission to use his photograph.

"Yes, it looks like someone took my photo without my permission and used it to design a new Croatian coin. They told me it was a competition and that design won. I also heard that the winner received a cash prize. I didn't get anything. He's a thief. He took my photo and picked up the prize. I think that those who organized it should withdraw the cash prize and name the real author of the photo on which the Croatian coin was made," Leach told 24 Sata.

"I am amazed at the interest from Croatia. A lot of good people from Croatia contacted me about this, and I didn't hear anything about it until two days ago," stated Leach for N1. 

“I don’t mind the photo being used as a motif for the coin and I would be glad to see it there. However, I would like to be officially recognized as a photographer and receive a usage fee. Also, I don't think that the person who stole my photo should be rewarded with almost 10,000 euros for something that was copied," concluded the photographer for N1. 

The Government told N1 that the competition to select the winning designs was led by the CNB from the beginning to the end.

"The competition for selecting the design was led from the beginning to the end by the CNB, through the Selection Committee (with external members) and the CNB's Permanent Money Commission, which otherwise decides on the design of commemorative coins. All contestants had to submit a statement guaranteeing that they are the owners of the copyright of the artistic solution that they applied for," the Government said for N1.

Recall, earlier this week, the Croatian Government presented the winning designs for the new Croatian euro coins. Various motifs were chosen - the coat of arms (šahovnica), a map of Croatia, a kuna (marten), Nikola Tesla, and the Glagolitic alphabet.

The kuna design, however, is familiar to a photograph of a kuna by a British photographer Iain H Leach. Many comments on social media pointed out the similarities between the kuna on the coin and the outline of the kuna in the photograph, primarily noticing the similar pose, the branch, but also smaller details, such as the position of the tail or the white color found on the animal's neck.

Leach also joined the discussion on Twitter.

"I hope the author of the Croatian euro coin design contacted you and paid you for the rights to the photo because the coin looks the same as your photo," one person wrote on Twitter, and he responded quickly. "Thanks for letting me know. Not sure what I can do, maybe they'll send me a free coin," Leach said. Twitter users soon began advising him to file a lawsuit.

This photo can be found in the photographer's kuna gallery on his website and around the Internet. This photograph is also provided by Google if "pine marten side view" is entered in the search engine. Pine marten is the English name for the kuna. 

The author of the Croatian euro coin design received HRK 70,000

The kuna motif will be on the 1 euro coin, and next to it will be the word "Croatia," and the year they introduced the euro - 2023. The author of the best design for this coin is Stjepan Pranjković, Master of Applied Arts.

Pranjković received HRK 70,000 for his winning design. His other two solutions won second place, receiving HRK 35,000. In total, he received HRK 140,000.

There are also posts on the Internet in which Pranjković asked for help in a group on Facebook on how to process a photo for a coin.

By the way, 295 design proposals were accepted for the kuna coin. The Croatian Commission for the Selection of Artistic Design Proposals selected the nine most successful proposals and submitted them to the CNB. Finally, in the second round of the tender, the CNB's Money Commission selected the three most successful design proposals.

The CNB published a document in which they explained the awarded works. Among them, they explained the motif of the kuna that will adorn the 1 euro coin, which is identical to the British photographer's image.

"The author of the award-winning work decided on a realistic depiction of the kuna animal. He very successfully graphically highlighted the figure of the kuna using a different surface texture, which contributed to the realistic depiction.

The author skillfully used the relationship between the given elements, so he uses straight and sharp chessboard lines as a frame of motifs and contrasts them with wavy lines in depicting the marten animal and the branch on which it stands. The position of the obligatory elements, which are placed along the edge of the inner part of the coin, additionally frames the motif and emphasizes its position," explains the CNB.

For more, check out our lifestyle section.

February 6, 2022 - Is the kuna image on the new Croatian euro coin design stolen from a British photographer? A closer look. 

Earlier this week, the Croatian Government presented the winning designs for the new Croatian euro coins. Various motifs were chosen - the coat of arms (šahovnica), a map of Croatia, a kuna (marten), Nikola Tesla, and the Glagolitic alphabet.

The kuna design, however, has caused a bit of controversy. Namely, the kuna on the euro coin looks oddly familiar to a photograph of a kuna published on the Internet. It didn't take long to cause a social media storm, reports Index.hr.

Many comments mostly point out the similarities between the kuna on the coin and the outline of the kuna in the photograph, primarily noticing the similar pose, the branch, but also smaller details, such as the position of the tail or the white color found on the animal's neck.

"Are you contacting me about stealing my photo?"

Index.hr contacted the author of the photograph, Iain H Leach, who has only briefly answered with a counter-question.

"Are you contacting me about the new coin stealing my photo?" said Leach. Judging by his statement, he did not seem to be aware that anyone was using his photograph for these purposes, and no one asked him for permission.

Leach also joined the discussion on Twitter.

"I hope the author of the Croatian euro coin design contacted you and paid you for the rights to the photo because the coin looks the same as your photo," one person wrote on Twitter, and he responded quickly. "Thanks for letting me know. Not sure what I can do, maybe they'll send me a free coin," Leach said. Twitter users soon began advising him to file a lawsuit.

This photo can be found in the photographer's kuna gallery on his website and around the Internet. This photograph is also provided by Google if "pine marten side view" is entered in the search engine. Pine marten is the English name for the kuna. 

The author of the design received HRK 70,000

Recall, the motif of the kuna will be on the 1 euro coin, and next to it will be the word "Croatia," and the year they introduced the euro - 2023. The author of the best design for this coin is Stjepan Pranjković, Master of Applied Arts.

Pranjković received HRK 70,000 for his winning design. His other two solutions won second place, receiving HRK 35,000. In total, he received HRK 140,000. Index.hr has sent a message to Pranjković through social media, but he has yet to answer. Should he reply, Index will publish the response. 

There are also posts on the Internet in which Pranjković asked for help in a group on Facebook on how to process a photo for a coin.

Index.hr also contacted the Government to comment on this potentially embarrassing situation, but they have not yet responded.

By the way, 295 design proposals were accepted for the kuna coin. The Croatian Commission for the Selection of Artistic Design Proposals selected the nine most successful proposals and submitted them to the CNB. Finally, in the second round of the tender, the CNB's Money Commission selected the three most successful design proposals.

How the design is explained on the CNB's website

The CNB published a document in which they explained the awarded works. Among them, they explained the motif of the kuna that will adorn the 1 euro coin, which is identical to the British photographer's image.

"The author of the award-winning work decided on a realistic depiction of the kuna animal. He very successfully graphically highlighted the figure of the kuna using a different surface texture, which contributed to the realistic depiction.

The author skillfully used the relationship between the given elements, so he uses straight and sharp chessboard lines as a frame of motifs and contrasts them with wavy lines in depicting the marten animal and the branch on which it stands. The position of the obligatory elements, which are placed along the edge of the inner part of the coin, additionally frames the motif and emphasizes its position," explains the CNB.

For more, check out our lifestyle section.

ZAGREB, 24 Oct, 2021 - The Ministry of Justice and Public Administration sated on Sunday that the campaigners who are against Croatia's plan to switch to the euro have to collect at least 368,867 valid signatures for their petition for the referendum initiative "Let's Preserve the Kuna".

One of the conditions for calling a referendum is that at least 10% of eligible voters sign the referendum petition, and on 24 October, the ministry established that there were 3,688,671 eligible voters in the country's electoral rolls, which means that the 10% quota is 368,867.

The organising committee for the referendum initiative on the preservation of the kuna as the sole legal tender has already announced the start of its campaign to collect signatures for the referendum petition. 

Currently, the euro (€) is the official currency of 19 out of 27 EU member countries which together constitute the Eurozone, officially called the euro area.

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ZAGREB, 21 March 2021 - At the end of February this year, 233,736 consumers in Croatia were subjected to debt enforcement proceedings for HRK 16.9 billion owed, as were 15,504 business operators owing HRK 15 billion, according to the data from the Financial Agency (FINA).

The number of consumers in debt fell by 6,151 or 2.6% compared with February 2020, while their debt principal increased by HRK 100 million or 0.9% to HRK 16.9 billion.

The majority of consumers, or 103,050, owed less than HRK 10,000, while 100,904 consumers owed amounts ranging between HRK 10,000 and 100,000. On the other hand, the smallest number of consumers, i.e. 1,537, owed more than HRK 1 million, and their share in the total debt was 38.48%.

The bulk of consumers' debt, HRK 5.1 billion without interest, accounted for debt to banks as creditors, while debt to all financial institutions totalled HRK 5.9 billion.

The number of business operators in debt declined by 2,619 or 14.5% compared with February 2020. Their debt principal amounted to HRK 5 billion, down by HRK 730.9 million or 12.7%.

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