What is the Estonian currency?

2024 Author: Howard Calhoun | [email protected]. Last modified: 2023-12-17 10:16

Estonia is located on the coast of the Gulf of Finland from the north. From the west it is washed by the B altic Sea. Russia is its eastern neighbor. From the south, Estonia borders on another B altic country, Latvia.

This country has a rich and interesting history. At the beginning of the second millennium AD, this territory was owned by Denmark. After a popular uprising, she sold the land to a German knightly order. Then Estonia was conquered by Sweden. In 1710, Peter the Great annexed it to the possessions of Russia. It should be noted here that neither Sweden nor Russia suppressed the national, cultural or religious life of Estonia. Of course, there was no complete freedom in these matters either. Estonia became an independent country after the October Revolution and the Civil War at the beginning of the twentieth century. But it wasn't long. Before the start of World War II, it became part of the USSR. In 1991-1992, Estonia became completely independent.

Much could be told about the history of the currency of this interesting country. But we will confine ourselves to recent times. In Soviet times (until 1991), the Estonian currency, of course, was the same as in the Soviet Union. These were rubles and kopecks. With gaining independence, in circulation appearedown currency. Now the currency of Estonia is the kroon, consisting of one hundred cents. It was pegged to the German mark in value. The Estonian currency defined its value as one-eighth of the value of a mark. Where did this name of the Estonian monetary unit come from? Everything new is well-forgotten old, and the kroon was simply brought back from the times when Estonia was an independent state between the two world wars.

In the pre-war Republic of Estonia, there were successively two different currencies. At first, the Estonian currency was the Estonian mark. It lasted for ten years - from 1918 to 1928. Then the currency in Estonia changed. It was the Estonian kroon, which includes one hundred cents. From January 1, 2011, the currency of Estonia is the euro. The country entered the European Union much earlier - in 2004. The delay in adopting the new currency was due to the fact that for this Estonia had to demonstrate certain economic indicators. By the specified date, all conditions were met, and the country became fully integrated into the European Union.

Let's show what scale of prices the Estonian currency of 2012 supports. If you use a bus in Tallinn, it will cost you 1.3 euros per hour. You can buy a loaf of bread for one euro. If you want to have a snack in a local (non-tourist) restaurant or cafe, then potatoes with salmon and vegetables will cost you five euros. The price of a bottle of beer is one euro.

Estonia is an attractive country for both tourists and businessmen. Her moderatethe climate and picturesque landscapes provide excellent opportunities for recreation. The tax climate in this country is quite favorable for investors. By the way, in addition to the usual species, the so-called medical tourism is popular here. This is due to the fact that prices in this industry are lower than in neighboring countries, and the quality is quite high. This primarily applies to medical institutions located in the city of Tartu and its famous university. Estonia is a unique, interesting and tourist-friendly country. There are good opportunities for recreation and a large number of interesting sights.