At the request of the Croatian authorities, the EU institutions decided to include the Croatian kuna in the so-called Exchange Rate Mechanism (ERM 2), a kind of currency waiting room for the euro.

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.

In order to meet the conditions for the introduction of the euro, Croatia must participate in the ERM2 mechanism for at least two years without serious tensions, primarily without the devaluation of the central exchange rate against the euro.

Also, supervision of Croatian banks was taken over by the European Central Bank.

The Commission will continue to encourage and support the efforts of the Croatian authorities to complete the process of joining the euro area.

More information at https://ec.europa.eu/commission/presscorner/detail/hr/ip_20_1321?fbclid=IwAR2ad5xfa1GztMOEIyvhJc-8IPvHG8Ft9SEjzRe4ZCQA0kqccUt4Vz5fuLU