1 kroon 1 kroon The 1 kroon (1 EEK) is the smallest valued banknote of the Estonian kroon, the former currency of Estonia. Kristjan Raud (1865–1943), an Estonian painter, teacher, and cultural historian, is featured with a portrait on the obverse. A view of Toompea Castle in Tallinn appears on the reverse. The 1 kroon was only issued once and had been steadily going out of circulation since a coin of the same value was also issued. At the time of replacement by the euro, it was very rarely found in use on an everyday basis. It can be exchanged indefinitely at
European Exchange Rate Mechanism letter to the Eurogroup in July 2018 on its desire to participate in ERM II. In theory, most of the currencies are allowed to fluctuate as much as 15% from their assigned value. In practice, however, the currency of Denmark deviates very little. The former members of ERM II are the Greek drachma, Slovenian tolar, Cypriot pound, Estonian kroon, Maltese lira, Slovak koruna, Lithuanian litas and Latvian lats. European Exchange Rate Mechanism The European Exchange Rate Mechanism (ERM) was a system introduced by the European Economic Community on 13 March 1979, as part of the European Monetary System (EMS), to