There is still little time to exchange kuna coins for euros; crowds are growing

Citizens can exchange kuna and lipa coins for euros until December 31, Damir Bićanić from the Cash Department of the Croatian National Bank reminded on the Croatian Radio Television show "Good Morning, Croatia".

As he said, crowds have already started, and the deadline after which the exchange will no longer be possible is indeed final.

At the beginning of the interview, Damir Bićanić said that the exchange is proceeding according to plan, but he pointed out that there are still more than two billion coins and more than 70 million banknotes in circulation.

“This is worth approximately one billion kuna in coins and about three billion kuna in banknotes, so a total of about four billion kuna,” he explained.

Coins - deadline December 31

The most important thing, he emphasized, is that the deadline applies only to coins, while banknotes can be exchanged after the New Year.

“After that deadline, citizens will no longer be able to exchange coins anywhere - neither with nor without a fee, nor in any institution,” said Bićanić.

He confirmed that the exchange rate is always fixed, 7.53, as determined when the euro was introduced.

Crowds are getting bigger, the Croatian National Bank has extended its working hours

“We are noticing crowds and that is not a surprise to us,” he said, reminding that the Croatian National Bank has been urging citizens throughout the year not to wait for December.

In order to facilitate the exchange, the Croatian National Bank has opened an additional, third counter for exchanging coins, and has extended the working hours of the cash register until 5 pm.

“Working hours are every working day from 8:30 am to 5 pm, and the cash register at 17 Jurišićeva Street will also be open on Christmas Eve and New Year's Day - until 12 pm,” he said.

Coins can also be sent by post

Bićanić pointed out that citizens do not have to come to Zagreb in person.

“Coins can be sent by mail to the Croatian National Bank, 3 Trg hrvatskih velikana, and will be exchanged and returned to citizens by mail,” he said, adding that it is important to include contact information.

Sending by insured mail is suggested, and the maximum amount that can be exchanged by mail is 14,999.99 kuna.

Large amounts with prior notice

“If someone has, for example, more than 40 thousand kuna, they need to be notified in advance - by phone or email,” he explained.

What happens to the coins after the deadline?

So far, there are about 800 million coins in stock.

“They are collected and sold as raw materials to interested buyers,” said Bićanić.

He also recalled the composition of coins:

1 and 2 lipa - aluminum and magnesium,

5 and 10 lipa - steel core coated with bronze,

20 and 50 lipa - nickel-plated steel core,

1, 2 and 5 kuna - an alloy of copper, nickel and zinc.

“All these metals have their value on the market and the Croatian National Bank will generate a certain income,” he concluded.

Source: HRT