Estonian kroon

Estonian kroon
Eesti kroon (Estonian)
Banknotes of the Estonia kroon.Coins of the Estonia kroon.
ISO 4217
CodeEEK
Unit
Pluralkrooni (Estonian partitive sg.)
SymbolKR
Nicknamepaper, The family names of the persons on notes: 100 KR – Koidula, 500 KR – Jakobson etc.
Denominations
Subunit
1100sent
Plural
sentsenti (Estonian partitive sg.)
Banknotes
 Freq. used2 KR, 5 KR, 10 KR, 25 KR, 100 KR, 500 KR
 Rarely used1 KR, 50 KR
Coins
 Freq. used10, 20, 50 senti, 1 KR
 Rarely used5 senti, 5 KR
Demographics
Date of introduction20 June 1992
ReplacedSoviet rouble (SUR)
10 SUR = 1 EEK
Date of withdrawal14 January 2011
Replaced byEuro (EUR)
15.6466 EEK = 1 EUR
User(s)None, previously:
 Estonia
Issuance
Central bankBank of Estonia
 Websitewww.eestipank.ee
Valuation
Inflation2.8%
 SourceEuropean Central Bank, May 2010
 MethodHICP
EU Exchange Rate Mechanism (ERM)
Since28 June 2004
Fixed rate since31 December 1998
Replaced by euro, non cash1 January 2011
Replaced by euro, cash14 January 2011
1 € =15.6466 KR
Banddid not fluctuate[1]
This infobox shows the latest status before this currency was rendered obsolete.

The kroon (sign: KR; code: EEK) was the official currency of Estonia for two periods in history: 1928–1940 and 1992–2011. Between 1 January and 14 January 2011, the kroon circulated together with the euro, after which the euro became the sole legal tender in Estonia.[2][3] The kroon was subdivided into 100 cents (senti; singular sent).

The word kroon (Estonian pronunciation: [ˈkroːn], “crown”) is related to that of the Nordic currencies (such as the Swedish krona and the Danish and Norwegian krone) and derived from the Latin word corona ("crown"). The kroon succeeded the mark in 1928 and was in use until the Soviet invasion in 1940 and Estonia's subsequent incorporation into the Soviet Union when it was replaced by the Soviet ruble. After Estonia regained its independence, the kroon was reintroduced in 1992 and replaced by the euro in 2011.

  1. ^ General principles of the Estonian monetary system Archived 2012-03-16 at the Wayback Machine, Bank of Estonia
  2. ^ "Stages of cash changeover". European Central Bank. Retrieved 2010-05-12.
  3. ^ Ministers offer Estonia entry to eurozone January 1 France24, 8 June 2010