Description
On 1 January 2023 Croatia adopted the euro and became the 20th member of the euro area. The assessments set out in the 2022 convergence reports of the European Commission and the European Central Bank paved the way for the first enlargement of the euro area since Lithuania joined in 2015.[1] On 12 July 2022 the Council of the European Union formally approved Croatia’s accession to the euro area and determined a Croatian kuna conversion rate of 7.53450 per euro.[2] This was the central rate of the kuna for the duration of the country’s participation in the exchange rate mechanism (ERM II).[3]
