Which currency became Estonia’s official money in 1992 after independence?

The Estonian kroon became Estonia’s official currency in 1992 after the country restored its independence.

The kroon was introduced on 20 June 1992, replacing the Soviet ruble. Estonia used a currency board system, linking the kroon to a foreign anchor and emphasizing monetary stability during the transition from the Soviet economic system.

The word “kroon” means “crown,” connecting Estonia’s currency name with several European currencies that use crown-related terms. The kroon was divided into 100 senti and remained in circulation until Estonia adopted the euro on 1 January 2011.

The Estonian kroon is often confused with the Latvian lats and Lithuanian litas, which were the former currencies of Estonia’s Baltic neighbours. Each Baltic state had its own national currency before adopting the euro, but their replacement dates were different.