page_title: Croatia and the euro
hierarchical_section_title: Croatia and the euro
caption_attribution_description: Boris Vujčić as Deputy Governor of the Croatian National Bank. He was made Governor 8 July 2012
context_page_description: Croatia's currency, the kuna, has used the euro as its main reference since its creation in 1994, and a long-held policy of the Croatian National Bank has been to keep the kuna's exchange rate with the euro within a relatively stable range.
  Croatia's EU membership obliges it to eventually join the eurozone. Prior to Croatian entry to the EU on 1 July 2013, Boris Vujčić, governor of the Croatian National Bank, stated that he would like the kuna to be replaced by the euro as soon as possible after accession. This must be at least two years after Croatia joins the ERM2. Croatia joined the ERM II on 10 July 2020. The central rate of the kuna was set at 1 euro = 7.53450 kuna.
  Many small businesses in Croatia had debts denominated in euros before EU accession.
  Croatians already use the euro for most savings and many informal transactions. Real estate, motor vehicle and accommodation prices are mostly quoted in euros.
context_section_description: Croatia's currency, the kuna, has used the euro (and prior to that one of the euro's major predecessors, the German mark or Deutschmark) as its main reference since its creation in 1994, and a long-held policy of the Croatian National Bank has been to keep the kuna's exchange rate with the euro within a relatively stable range.
  Croatia's EU membership obliges it to eventually join the eurozone.  Prior to Croatian entry to the EU on 1 July 2013, Boris Vujčić, governor of the Croatian National Bank, stated that he would like the kuna to be replaced by the euro as soon as possible after accession. This must be at least two years after Croatia joins the ERM2 (in addition to it meeting other criteria). Croatia joined the ERM II on 10 July 2020. The central rate of the kuna was set at 1 euro = 7.53450 kuna.
  Many small businesses in Croatia had debts denominated in euros before EU accession.
  Croatians already use the euro for most savings and many informal transactions. Real estate, motor vehicle and accommodation prices are mostly quoted in euros.
caption: I always quote the Bob Dylan song ‘When you ain’t got nothing, you got nothing to lose’. If you don’t have independent monetary policy what are you going to lose by entering into the monetary union? —Boris Vujčić, Governor of the Croatian National Bank, makes an analogy about Croatia's long-held euro-focused monetary policy.[1]
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