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The kuna was introduced in 1994 moving from the Croatian dinar, and was pegged to the German mark from the beginning and now pegged to the Euro. Croatia joined the World Trade Organisation in 2000, NATO in 2009 and only joined the European Union in 2013. Croatia has plans to join the European Monetary System, however they initially wanted to move to the Euro after 2 or 3 years of joining the EU.
The coins used are called lipa, there is 100 lipas to 1 kuna. 1 and 2 lipa coins ceased to be minted in 2009 as their real value is so insignificant.
After the collapse of socialism in the 1990’s, Croatia transitioned into a market-based economy and is now a service based economy, with the tertiary sector accounting for over 70% of its GDP.
The word “lipa” means lime tree in Croatian; which traditionally were planted around marketplaces in Croatia.
The Croatian Kuna is the official currency of Croatia. The ISO 4217 currency code for the Croatian Kuna is HRK.