EEK

AAA

DEFINITION of 'EEK'

The currency code for the Estonian kroon, the official currency of northeastern European country of Estonia. The Estonian kroon (EEK) became the official legal currency of Estonia in January of 1928, when it replaced the Estonian mark. In 1940, when the Soviets invaded Estonia, the kroon was replaced by the Soviet ruble, which remained the country's currency until 1992. The kroon was resurrected for a second time as the national currency that year and was pegged to the Deutsche mark.

INVESTOPEDIA EXPLAINS 'EEK'

The Bank of Estonia issues the kroon. It mints coins in 5, 10, 20 and 50 "senti," 1 kroon and 5 "krooni" denominations. It prints 1, 2, 5, 10, 25, 50, 100 and 500 "krooni" denomination banknotes.

The currency market, also known as the foreign exchange market, is the largest financial market in the world.

RELATED TERMS
  1. Currency

    A generally accepted form of money, including coins and paper ...
  2. Hard Currency

    A currency, usually from a highly industrialized country, that ...
  3. Forex - FX

    The market in which currencies are traded. The forex market is ...
  4. Money

    An officially-issued legal tender generally consisting of currency ...
  5. WM/Reuters Benchmark Rates

    Spot and forward foreign exchange rates that are used as standard ...
  6. Bitcoin Mining

    Bitcoin mining is the process by which transactions are verified ...
Related Articles
  1. A Primer On The Forex Market
    Options & Futures

    A Primer On The Forex Market

  2. Currency Exchange: Floating Rate Vs. ...
    Forex Education

    Currency Exchange: Floating Rate Vs. ...

  3. The Currency Board: Understanding The ...
    Personal Finance

    The Currency Board: Understanding The ...

  4. Top 7 Questions About Currency Trading ...
    Forex Education

    Top 7 Questions About Currency Trading ...

comments powered by Disqus
Hot Definitions
  1. Halloween Massacre

    Canada's decision to tax all income trusts domiciled in Canada. In October 2006, Canada's minister of finance, Jim Flaherty, ...
  2. Zombies

    Companies that continue to operate even though they are insolvent or near bankruptcy. Zombies often become casualties to ...
  3. Witching Hour

    The last hour of stock trading between 3pm (when the bond market closes) and 4pm EST. Witching hour is typically controlled ...
  4. October Effect

    The theory that stocks tend to decline during the month of October. The October effect is considered mainly to be a psychological ...
  5. Repurchase Agreement - Repo

    A form of short-term borrowing for dealers in government securities.
  6. Correlation

    In the world of finance, a statistical measure of how two securities move in relation to each other. Correlations are used ...
Trading Center