Estonian kroon 4 days after the founding of the Estonian SSR, the last Estonian pre-WW II coin, the new 1 sent (date 1939), was issued. In 1927, before the kroon was officially introduced, 100 marka banknotes circulated with an "ÜKS KROON" (1 kroon) overprint. Eesti Pank introduced 10 krooni notes in 1928, followed by 5 and 50 krooni in 1929, 20 krooni in 1932 and 100 krooni in 1935. The kroon was reintroduced as Estonia's currency on 20 June 1992, replacing the Soviet ruble at a rate of 1 kroon = 10 rubles. (Each person was able to change a maximum of
European Monetary Institute European Monetary Institute The European Monetary Institute (EMI) was the forerunner of the European Central Bank (ECB), operating between 1994 and 1997. The EMI was created 1 January 1994 to oversee the second stage in the creation of monetary union. The EMI itself took over from the earlier European Monetary Cooperation Fund (EMCF). The EMI met for the first time on 12 January under its first President, Alexandre Lamfalussy. On 1 July 1997 Lamfalussy was replaced by Wim Duisenberg who would then go on to serve as the ECB's President. The institute was dissolved on 1 June 1998 with the