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Economy and Finance

Estonia and the euro

Estonia joined the European Union in 2004 and adopted the euro on 1 January 2011.


Estonia joined the euro area on 1 January 2011.

Fixed conversion rate 

€1 = 15.6466 Estonian kroonid

Adoption of the euro

The kroon joined the Exchange Rate Mechanism (ERM II) on 28 June 2004 and observed a central rate of 15.6466 to the euro with standard fluctuation margins of ±15%. On 13 July 2010 the Council gave its green light to the adoption of the euro by Estonia on 1 January 2011.

Exchange of former national currency

Estonian kroon banknotes and coins can be exchanged for euros at the Eesti Pank for an unlimited period of time.