Estonian kroon 1500 rubles to 150 krooni.) Initially, the Estonian kroon was pegged to the Deutsche Mark at a rate of 8 krooni = 1 Deutsche Mark. After the introduction of the euro the fixed exchange rate of 1.95583 DEM to EUR led to an exchange rate of 15.64664 krooni to the euro. On 28 June 2004, as Estonia joined the ERM II-system, the central parity of the Estonian kroon was revalued (by less than 0.001%) to 15.6466 krooni per euro. On 1 January 2011 the euro replaced the kroon as the official currency of Estonia. The kroon circulated alongside the euro
Estonian kroon of 5, 10, 20 & 50 senti, as well as 1 kroon. The 1 kroon was struck in cupronickel, the others in aluminum-bronze. However, in 1997, nickel-plated steel 20 senti were introduced, followed by aluminum-bronze 1 kroon in 1998. 5 senti coins were not issued after 1994 but were still legal tender. The cupronickel 1 kroon coins from 1992, 1993 and 1995 were demonetized on 31 May 1998 because they were too similar in weight and composition to German one-mark coins, and new 1 kroon coins were issued. The 5 krooni coins were commemorative pieces and were rarely seen in