Valkean kruunu
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| Valkean kruunu | |
|---|---|
| ISO 4217 | |
| Code | VKK |
| Denominations | |
| Subunit | |
| 1⁄100 | sentti |
| Plural | kruunut |
| sentti | sentit |
| Symbol | kr |
| sentti | s |
| Nickname | crown (English), krona (Nynorsk) |
| sentti | cent |
| Banknotes | |
| Freq. used | 50, 100, 200, 500 kr |
| Rarely used | 1000 kr |
| Coins | 1, 2, 5, 10, 20 kr |
| Demographics | |
| User(s) |  Valkea |
| Issuance | |
| Central bank | Bank of Valkea |
The Valkean kruunu (plural: krunuut, sign: kr, code: VKK) is the currency of the Republic of Valkea. The ISO code "VKK" and currency sign "kr" are used to identify the kruunu; the former precedes the numeric value while the latter follows it. It is sometimes called the Valkean crown in English, as kruunu means "crown" in Valkean.
One kruunu is divided into 100 cents (sentit, singular: sentti), although the last coins denominated in cents were withdrawn from circulation in 2016.
History
The modern incarnation of the kruunu was introduced upon the Kingdom of Valkea's switch to the gold standard in 1874. The kruunu replaced the previous markka (plural: markat) and was pegged at a rate of 2 markat = 1 kruunu.
In 1925, the Kansallist Party under Hannu Sibelius made plans to replace the kruunu for a different currency, with the aim to distance the then-nascent Republic of Valkea from its monarchial past. However, those plans were abandoned soon after Sibelius' assassination in 1928. His successor, Markku Vuotola, instead chose to retain the kruunu and moved it off the gold standard in 1930. Its rate to the NationStates Dollar fell from $0.42 to $0.29 in 1931 and to $0.17 by 1932. To stop the kruunu from devaluing even further, in 1934, the currency was placed on a fixed rate of 5.218 kr per N$D. This rate remained more or less stable until the Valkean government allowed the kruunu to float in 1973.
To maintain Valkea's competitiveness in exports, the Valkean government heavily intervened in foreign exchange markets to keep the value of the kruunu low. Despite the impact of the 1971 Recession, the kruunu steadily rose in value through the second half of the 1970s as well as through the 1980s.
Coins
| Value | Diameter | Thickness | Weight | Composition | Edge |
|---|---|---|---|---|---|
| 1 kr | 19.5 mm | 1.6 mm | 3.4 g | Copper-plated steel | Smooth |
| 2 kr | 20 mm | 1.8 mm | 3.8 g | Milled | |
| 5 kr | 23.5 mm | 2.1 mm | 6 g | Cupro-nickel | Smooth |
| 10 kr | 25 mm | 2.3 mm | 7.2 g | Milled | |
| 20 kr | 28 mm | 2.4 mm | 8.5 g | Aluminium bronze | Interrupted milling |
Banknotes
| Value | Dimensions | Main color | |
|---|---|---|---|
| 50 kr | 121 x 66 mm | Yellow | |
| 100 kr | 129 x 66 mm | Blue | |
| 200 kr | 137 x 66 mm | Red | |
| 500 kr | 146 x 66 mm | Green | |
| 1000 kr | 156 x 66 mm | Purple | |
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