Estonian kroon received real coverage with the reserves backing the kroon. The issue of treasury notes and exchange notes was terminated. In order to secure the credibility of the kroon, the Bank of Estonia exchanged kroon for foreign currency. All these measures restored confidence in the domestic banking and monetary sector, contributing to the economic reinvigoration of the country and to the improvement of the reputation of the Estonian state in the international arena. During the Great Depression in 1933, the kroon went off the gold standard, devalued 35% and obtained a currency peg with the Great Britain Pound (GBP) at 1
Knut Kroon Knut Kroon Knut "Knutte" Kroon (19 June 1906 – 27 February 1975) was a Swedish footballer. He played as a striker. Kroon was born in Hälsingborg, and began his career with Stattena IF. In 1925, he moved to the nearby club Helsingborgs IF where he made 516 appearances and scored 318 goals. Kroon won Allsvenskan five times with the club, and retired from his career in 1942. He made 35 appearances in the national team (1925–1934) and was a member of the team in 1934 FIFA World Cup. He scored the winning goal (3-2) in the first round against Argentina.