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Kuna is the name of the currency used in Croatia. Currency
code is HRK. One kuna equals 100 lipa. One euro equals around
7.5 kuna (as of 2004).
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 exchange rate between dinar and kuna was one thousand
to one.
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.
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