Economy and Business

Kuna is the name of the currency used in Croatia. Currency code is HRK. One kuna equals 100 lipa. One euro equals around 7.3 kuna (as of August 2005).


The word kuna means "marten" in Croatian, while the word lipa means "linden". 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.

The kuna was introduced in June 1994 after the transitional period following Croatian independence in the early 1990s during which the Yugoslav dinar was replaced with a Croatian dinar.

The choice of the name kuna was controversial, not least among the Serbs in Croatia, as the only entity that had used this currency name before was the Fascist puppet Independent State of Croatia during World War II. The Croatian government defended its choice with claims of historical use of marten pelts, while its detractors saw it as a move suggesting modern Croatia's continuity with the prior extremist regime.

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