After much speculation, Croatia looks set on its fast-track plan to join the Eurozone and to introduce the Euro as its only official currency from the first day of 2023.
The law set to provide the legal framework for the introduction of Euro is expected to be voted on in the Croatian parliament sometime in April 2022, after which the European Union is expected to approve the Croatian request to join the Eurozone.
The conversion rate is expected to be set at 7,53 HRK for 1 EUR.
If the European parliament complies with the Croatian request, it is expected that the Croatian government will put up a new ordinance that will require all local business to showcase their prices in two currencies, though only HRK will be accepted as a means of payment until January 1 2023. The introduction of the double-price system is expected in August 2022.
Previously, on July 21 2021, the Croatian National Bank announced the results of the vote on the future appearance of Croatian-themed Euro coins which are set to feature five motifs voted by the Croatian general public which will include: the geographical map of Croatia, the glagolithic script, the European marten (i.e. Croatian kuna) and the portrait of the Croatian scientist and innovator Nikola Tesla.
If all legal requirements are met in the envisaged period, Croatia will officially adopt Euro as its legal currency on January 1 2023, starting a two-week period when both currencies will be accepted in transactions, after which only Euro will be used in commercial activities, while old Kuna banknotes and coinages will be exchangeable at banks and other official institutions.