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Estonian kroon Eesti kroon (Estonian)
500 krooni obverse 50 senti
ISO 4217 Code	EEK
User(s)	Estonia
Inflation	4.4%
Source	The World Factbook, 2006 est.
ERM
Since	28 June 2004
Fixed rate since	31 December 1998
Replaced by €, cash	1 January 2010 tentative
€ =	15.6466 krooni
Band	pegged in practice, 15% de jure
Subunit
1/100	sent
Symbol	KR
Plural	krooni
sent	senti
Coins
Freq. used	10, 20, 50 senti, 1 kroon
Rarely used	5 senti, 5 krooni
Banknotes
Freq. used	2, 5, 10, 25, 100, 500 krooni
Rarely used	1, 50 krooni
Central bank	Bank of Estonia
Website	www.bankofestonia.info

The kroon (ISO 4217 code: EEK) has been the currency of the Republic of Estonia since 1928. One kroon is divided into 100 senti.

Contents 1 History 1.1 First kroon, 1928-1940 1.2 Second kroon, 1992- 2 Coins 2.1 First kroon 2.2 Second kroon 3 Banknotes 3.1 First kroon 3.2 Second kroon 4 See also 5 References 6 External links

Already in 1927 the old 100 mark banknote was circulated with '1 KROON' overprint. The first kroon was introduced on 1 January 1928. It replaced the mark at a rate of 1 kroon = 100 marka. Initially the Estonian kroon had a fixed exchange rate, equal to 100/248 grams of gold. During the Great Depression in 1933, the Estonian kroon went off the gold standard. Estonian kroon circulated until the Soviet invasion of 1940. The kroon was exchanged for Soviet rubles at a rate of 1 ruble = 0.8 kroon.

The second kroon was introduced on 20 June 1992, replacing the Soviet ruble at a rate of 1 kroon = 10 rubles. Initially, the Estonian kroon was pegged to the German mark at a rate of 8 EEK = 1 DEM.^[1] It has been stable since then. After the introduction of the euro the fixed exchange rate of 1.95583 DEM to EUR led to an exchange rate of 15.64664 krooni to the euro.

The kroon is now officially in ERM II, the EU's exchange rate mechanism. As it remains pegged to the euro, it makes no use of its 15% fluctuation band. Estonia was party to joining the mechanism since joining the EU - actual entry was on 28 June 2004 [1].

Kroon was minted in 1 and 2 kroon silver coins.

1 kroon 1993
Obverse	Reverse

Coins in circulation ^[2]:

• 10 senti (1991;1992;1994;1996;1997;1998;2002;2006),
• 20 senti (1992;1996 and 1997;1999;2003;2004;2006),
• 50 senti (1992;2004;2006),
• 1 kroon (1992;1993;1995 and 1998;2000;2001;2003;2006),
• 5 krooni (1993 and 1994).

The 5 sent coins are no longer being issued, but it still is usable for paying.

The following banknotes were also in circulation:

• 5 krooni
• 10 krooni
• 20 krooni
• 50 krooni
• 100 krooni

Notes in circulation:

• 1 kroon (1992),
• 2 krooni (1992;2006),
• 5 krooni (1991;1992;1994),
• 10 krooni(1991;1992;1994;2006),
• 25 krooni(1991;1992;2002),
• 50 krooni(1994),
• 100 krooni(1991;1992;1994;1999),
• 500 krooni(1991;1994;1996;2000).

The 1 kroon notes are no longer being issued. As a result, the 5 sent coins, 5 kroon coins, and 1 kroon notes are all currently rarely found in circulation. Also the 50 kroon notes are not very popular in Estonia and are not seen in everyday circulation very often.

Estonian banknotes [3]
Value	Main colour	Portrait
1	Orange/brown	Kristjan Raud
2	Grayish blue	Karl Ernst von Baer
5	Orange	Paul Keres
10	Red	Jakob Hurt
25	Green	Anton Hansen Tammsaare
50	Light green	Rudolf Tobias
100	Light blue	Lydia Koidula
500	Purple	Carl Robert Jakobson

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• Currencies related to the euro
• Estonian euro coins
• Currency board
• Estonian mark
• Economy of Estonia

• Don's World Coin Gallery - Estonia
• Ron Wise's World Paper Money - Estonia ^{Mirror site}
• The Global History of Currencies - Estonia
• Global Financial Data data series - Estonia Kroon
• Global Financial Data currency histories table ( Microsoft Excel format)
• Coins of former Soviet republics

v • d • e Currencies named crowns or similar
Circulating	Czech koruna · Danish krone · Estonian kroon · Faroese króna · Greenlandic koruuni (from 2008 onwards) · Icelandic króna · Norwegian krone · Slovak koruna · Swedish krona
Obsolete	Austrian Netherlands kronenthaler · Austro-Hungarian krone · Bohemian and Moravian koruna · Czechoslovak koruna · Hungarian korona · Liechtenstein krone · Yugoslav krone
As a denomination	British crown · kronenthaler

v • d • e Topics on the euro
Topics	Coins (Identifying marks) · Banknotes · Symbol · Eurozone · European Central Bank (ESCB • Eurosystem) · Pegged currencies · Economic & Monetary Union · Ecofin · Stability & Growth Pact · Linguistic issues · EU economy · European economy · Eonia · Euribor · Petroeuro · Global economy · Reserve currency · World currency
History	'Snake in the tunnel' · European Monetary System (I: ECU • II: ERM • III: EMU) · European Monetary Institute · Introduction · Enlargement
Coins	€0.01 · €0.02 · €0.05 · €0.10 · €0.20 · €0.50 · €1 · €2 · €2 commemorative coins
Coins by country	adopted official EU: Austria · Belgium · Finland · France · Germany · Greece · Ireland · Italy · Luxembourg · Netherlands · Portugal · Slovenia · Spain Non-EU: Monaco · San Marino · Vatican unofficial Andorra · Kosovo · Montenegro adoption targeted Cyprus (2008-1-1) · Malta (2008-1-1) · Slovakia (2009?) · Bulgaria (2010?) · Estonia (2010?) · Lithuania (2010?)  · Czech Republic (≥2012) · Latvia (≥2012) · Poland (2012?) · Romania (2014?) · Hungary (2012?) other Denmark · Sweden · United Kingdom
Yielded currencies	European Currency Unit · Austrian schilling · Belgian franc · Dutch gulden · Finnish markka · French franc · German mark  · Greek drachma · Irish pound · Italian lira · Luxembourgian franc · Monegasque franc · Portuguese escudo · Sammarinese lira · Slovenian tolar · Spanish peseta · Vatican lira
Remaining currencies	ERM II Cypriot pound · Danish krone · Estonian kroon · Latvian lats · Lithuanian litas · Maltese lira · Slovak koruna other British pound · Bulgarian lev · Czech koruna · Gibraltar pound · Hungarian forint · Polish złoty · Romanian leu · Swedish krona
Numismatics Portal · European Union Portal

v • d • e Currencies of Europe
Eurozone	Euro
Northern	Danish krone · Faroese króna · Icelandic króna · Norwegian krone · Swedish krona
Baltic	Estonian kroon · Latvian lats · Lithuanian litas
Western	British pound · Guernsey pound · Jersey pound · Manx pound
Central	Czech koruna · Hungarian forint · Polish złoty · Slovak koruna · Swiss franc
Eastern	Belarusian ruble · Kazakhstani tenge · Russian ruble (Russia and Abkhazia and South Ossetia (unrecognised)) · Transnistrian ruble (unrecognised) · Ukrainian hryvnia
Southeastern	Albanian lek · Bosnia-Herzegovina konvertibilna marka · Bulgarian lev · Croatian kuna · Macedonian denar · Moldovan leu · Romanian leu · Serbian dinar
Mediterranean	Cypriot pound · Gibraltar pound · Maltese lira · Turkish new lira (Turkey and Northern Cyprus (unrecognised))
Transcaucasia	Armenian dram (Armenia and Nagorno-Karabakh (unrecognised)) · Azerbaijani manat · Georgian lari