If you have been near the Croatian National Bank in Zagreb in the past few months, you have probably noticed a crowd or a line waiting in front of it. It is not always a large crowd, but many citizens of the capital have noticed that it is a daily occurrence. What is this about? As we learn, it is about exchanging kuna for euros.
Let us remind you that as of January 1 of this year, banks, the Financial Agency (Fina), and the Croatian Post no longer provide the service of exchanging kuna, so banknotes and coins can only be exchanged at the HNB. As announced at the end of last year, there are no limits on the amount exchanged or fees for exchanging kuna for euros at the HNB. The HNB will permanently exchange kuna banknotes, while coins can be exchanged within three years from the introduction of the euro, or no later than December 31, 2025.
It has been 14 months since the euro was introduced as the official currency and two months since kuna can only be exchanged at the HNB, raising the question of how many kuna are still in circulation that lines are still forming in front of the HNB.
– From January 1 to February 28, 2024, a total of 10.12 million kuna was exchanged in a total of 4,594 transactions at the Croatian National Bank. Of the mentioned number of transactions, 4,060 transactions were conducted directly at the counter of the Croatian National Bank, while 534 transactions relate to transactions conducted based on received postal shipments. On average, about 100 transactions of exchanging kuna for euros are conducted directly at the counter daily. For January, the average exchanged amount at the counter was 2,625 kuna, and in postal shipments, it was 999 kuna. The total average exchanged amount of all transactions conducted so far (shipments and counter) is 2,203 kuna. As of February 28, 2024, approximately 4.45 billion kuna were still in circulation – the HNB informed us.
