Croatia is in the waiting room to adopt the Euro as the official currency and ditch the Kuna, which could happen from January 1 2023.
The Croatian Kuna has been included in the so called Exchange Rate Mechanism (ERM 2) which is basically the final waiting room before adopting the Euro, announced the European Central Bank. And after consultations with the Commission, the Economic and Financial Committee, it was decided that the central exchange rate of the Kuna for the euro would be 7.53450 Kuna.
This also means that as of yesterday, the European Central Bank has taken over the supervision of Croatian banks.
In relation to this exchange rate, until the introduction of the euro, a fall or increase in the exchange rate of the Kuna by a maximum of 15 percent will be allowed. In other words, 7.53450 Kuna for the Euro is the central rate at which we will exchange Kuna for Euros on the day when the Kuna remains a part of Croatian history, and that could be on January 1, 2023 at the earliest, reports Jutarnji List.