Estonian kroon

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Image:EEK-500krooni-front.jpg	Image:EEK 50senti 2004.jpg
500 krooni obverse	50 senti

ISO 4217 Code EEK

User(s) Estonia

Inflation 4%

Source The World Factbook, 2005 est.

ERM

Since 28 June 2004

Fixed rate since 31 December 1998

Replaced by €, cash 1 January 2008 tentative

€ = 15.6466 krooni

Band 15%

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

EEK redirects here. For other uses, see Eek (disambiguation).

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

1 History
- 1.1 First Kroon, 1928-1940
- 1.2 Second Kroon, 1992-
2 Circulating Currency
3 See also

[edit] History

[edit] First Kroon, 1928-1940

The first kroon was introduced in 1928. It replaced the mark at a rate of one hundred to one. It circulated until the Soviet invasion of 1940. The kroon was exchanged for Soviet rubles at a rate of 1 ruble = 0.8 kroon.

[edit] Second Kroon, 1992-

The second kroon was introduced in 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. It has been stable since 20 June 1992. 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].

[edit] Circulating Currency

Notes in circulation: 1, 2, 5, 10, 25, 50, 100, 500 krooni.
Coins in circulation: 5, 10, 20 and 50 senti, 1 and 5 krooni.

The 5 sent coins and 1 kroon notes are no longer being issued. The 5 kroon coins were only issued as commemoratives. As a result, all three are 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.

1 kroon coin obverse

1 kroon coin reverse

Estonian banknotes [2]
Denomination	Portrait
1	Kristjan Raud
2	Karl Ernst von Baer
5	Paul Keres
10	Jakob Hurt
25	Anton Hansen Tammsaare
50	Rudolf Tobias
100	Lydia Koidula
500	Carl Robert Jakobson
Estonian kroon coins [3]

Current EEK exchange rates

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Use XE.com:	AUD CAD CHF EUR GBP HKD JPY USD

[edit] See also

Image:Commons-logo.svg

Wikimedia Commons has media related to:

Estonian money

Crowns
Current	Czech koruna \| Danish krone \| Estonian kroon \| Faroese króna \| Icelandic króna \| Norwegian krone \| Slovak koruna \| Swedish krona
Defunct	Austro-Hungarian krone \| Czechoslovak koruna \| Hungarian korona \| Yugoslav krone
As a denomination	British crown
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Pre-euro and other EU currencies

Image:European flag.svg

Eurozone	Austrian Schilling \| Belgian franc \| Dutch gulden \| Finnish mark \| French franc \| German Mark \| Greek drachma \| Irish pound \| Italian lira \| Luxembourgish franc \| Monegasque franc \| Portuguese escudo \| San Marinese lira \| Spanish peseta \| Vatican lira
ERM II	Cypriot pound \| Danish krone \| Estonian kroon \| Latvian lats \| Lithuanian litas \| Maltese lira \| Slovak koruna \| Slovenian tolar
Other EU	British pound \| Bulgarian lev \| Czech koruna \| Gibraltar pound \| Hungarian forint \| Polish złoty \| Romanian leu \| Swedish krona
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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 \| Slovenian tolar \| Swiss franc
Eastern	Belarusian ruble \| Kazakhstani tenge \| Russian ruble \| Ukrainian hryvnia
Southeastern	Albanian lek \| Bulgarian lev \| Bosnia and Herzegovina convertible mark \| Croatian kuna \| Macedonian denar \| Moldovan leu \| Romanian leu \| Serbian dinar
Mediterranean	Cypriot pound \| Gibraltar pound \| Maltese lira \| Turkish new lira
Transcaucasia	Armenian dram \| Azerbaijani manat \| Georgian lari
Unrecognized Countries	Transnistrian ruble
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