The kroon (sign: KR; code: EEK) was the official currency of Estonia for two periods in history: 1928–1940 and 1992–2011.

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 sterling at £1 stg = 18.35 KR.

The kroon was reintroduced as Estonia's currency on 20 June 1992, replacing the Soviet rouble at a rate of 1 KR = 10 Rbls.

Initially, the Estonian kroon was pegged to the Deutsche Mark at a rate of 8 KR = DM 1.

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 KR per euro.

The kroon circulated alongside the euro until 15 January 2011 at which point it ceased to be legal tender.

Notes in circulation before being replaced by the euro: In 1992, coins were introduced (some dated 1991) in denominations of 5, 10, 20, & 50 senti, as well as 1 KR.