The Croatian kuna is the official currency of Croatia. The kuna is issued by the Croatian National Bank and subdivided into 100 lipa. The ISO 4217 code for the kuna is HRK and the currency sign is kn. The kuna was introduced in 1994, replacing the Croatian dinar, and has been fairly stable since then.
Quick Answer
As of November 2023, 1 British pound (GBP) is equivalent to approximately 7.55 Croatian kuna (HRK). This exchange rate fluctuates regularly based on supply and demand in the foreign exchange markets.
Current Exchange Rate
The current exchange rate between the British pound and the Croatian kuna is:
1 GBP = 7.55 HRK
1 HRK = 0.132 GBP
This means that 1 pound sterling can purchase 7.55 kuna. Conversely, 1 kuna can purchase 0.132 pounds sterling. Rates may vary slightly between banks and other foreign exchange providers.
Historical Exchange Rates
Historically, the exchange rate between the British pound and the Croatian kuna has fluctuated as follows:
- 1 GBP = 7.51 HRK (November 2022)
- 1 GBP = 8.09 HRK (November 2021)
- 1 GBP = 8.40 HRK (November 2020)
- 1 GBP = 8.51 HRK (November 2019)
- 1 GBP = 8.61 HRK (November 2018)
Over the past 5 years, the value of the British pound compared to the Croatian kuna has generally decreased. This means it takes fewer kuna to purchase one pound sterling now compared to previous years.
Factors Influencing Exchange Rates
There are several factors that influence the exchange rate between the British pound and the Croatian kuna:
- Relative inflation rates – Higher inflation in Croatia compared to the UK tends to devalue the kuna against the pound.
- Interest rates – Higher interest rates in Croatia make kuna deposits and investments more attractive, increasing demand for kuna.
- Economic performance – Stronger economic growth and productivity in the UK boosts the value of the pound against the kuna.
- Political stability – Political turmoil and unrest in Croatia can weaken the kuna compared to the more stable pound.
- Current account deficits – Croatia’s trade deficits tend to lower the relative value of the kuna.
- Market psychology – Investor sentiment and speculation also impacts currency movements.
These factors combine to influence supply and demand for the two currencies and determine their market exchange rate.
Converting Pounds to Kuna
To calculate how many Croatian kuna are in a certain number of British pounds at the current market exchange rate, simply multiply the pounds by the exchange rate:
Pounds x Exchange rate = Kuna
For example, to convert 100 British pounds to kuna:
100 GBP x 7.55 HRK/GBP = 755 HRK
So at the current rate, 100 pounds sterling is equal to 755 Croatian kuna.
Converting Kuna to Pounds
To go the other way and convert kuna to pounds, divide the number of kuna by the exchange rate:
Kuna / Exchange rate = Pounds
For example, to convert 1,000 Croatian kuna to pounds:
1,000 HRK / 7.55 HRK/GBP = 132.45 GBP
So at the current rate, 1,000 Croatian kuna is equal to approximately 132 British pounds.
Real-world Cost Conversion Examples
The pound-kuna exchange rate allows us to determine the comparative costs of goods and services between the UK and Croatia:
Groceries
| Item | UK Price in GBP | Croatia Price in HRK |
|---|---|---|
| Loaf of bread | 1.00 | 10.00 |
| Apples (1 kg) | 2.00 | 15.00 |
| Bottle of wine | 5.00 | 50.00 |
Based on typical grocery prices in supermarkets, basic food items cost approximately the same numerical value when converted between pounds and kuna.
Restaurant Meal
| Item | UK Price in GBP | Croatia Price in HRK |
|---|---|---|
| Basic meal for one | 10.00 | 80.00 |
| Mid-range meal for two | 40.00 | 300.00 |
| Upscale meal for four | 120.00 | 850.00 |
Restaurant meals in Croatia tend to cost slightly less when converting from pounds to kuna. This makes dining out relatively affordable for British tourists.
Cost of Traveling and Vacationing
The favorable pound-kuna exchange rate makes Croatia an appealing destination for UK travelers looking to stretch their money further on holiday. Some sample travel costs in pounds and kuna:
| Item | UK Price in GBP | Croatia Price in HRK |
|---|---|---|
| Flight from London to Zagreb | 150.00 | 1,100.00 |
| Three star hotel room for one night | 80.00 | 600.00 |
| organize excursion to Plitvice Lakes | 50.00 | 400.00 |
| High-speed ferry from Split to Hvar | 20.00 | 150.00 |
Due to the weaker kuna, common vacation expenses like hotels, tours, transportation, and more are very affordable for British travelers in Croatia after converting pounds to kuna.
House Prices and Rents
The relative value of the Croatian kuna also results in substantially lower property prices and rental rates compared to the UK. Some example prices in pounds and kuna:
| Property | UK Price in GBP | Croatia Price in HRK |
|---|---|---|
| Two bedroom flat outside city centre | 200,000 | 1,500,000 |
| Three bedroom house in suburbs | 300,000 | 2,500,000 |
| One bedroom city centre apartment | 250,000 | 1,800,000 |
| Monthly rent for 85 m2 flat | 1,000 | 7,000 |
Houses, apartments, and rents are significantly cheaper in Croatia compared to the UK when converted between pounds and kuna. This makes Croatian property very attractive to British buyers or investors.
Salary and Income Comparisons
It is also useful to understand the relative earning power of pounds versus kuna when looking at average salary levels:
| Occupation | UK Salary in GBP | Croatia Salary in HRK |
|---|---|---|
| Primary school teacher | 33,000 | 250,000 |
| Registered nurse | 30,000 | 230,000 |
| Police officer | 40,000 | 300,000 |
| Accountant | 45,000 | 350,000 |
Salaries for equivalent professions tend to be lower in Croatia when converted to pounds. This demonstrates the stronger purchasing power of the pound.
Taxes
When earning income, investing, or spending in Croatia, it is useful to understand key Croatian taxes in GBP:
- Personal income tax – Ranges from 24% on income over 30,000 HRK (3,975 GBP) to 36% on income over 360,000 HRK (47,700 GBP)
- Corporate income tax – 18%
- VAT (sales tax) – 25% on most goods and services
- Capital gains tax – 10% on realized investment gains
- Inheritance tax – 4% above 50,000 HRK (6,625 GBP) threshold
Taxes in Croatia are moderately high, but comparable or lower than UK rates for many brackets when converted to pounds.
Retirement Income
For British retirees or pensioners considering moving to Croatia, monthly state pension incomes convert as follows:
- UK full state pension – 168.60 GBP per week = 734.19 GBP per month
- 734.19 GBP x 7.55 HRK/GBP = 5,544 HRK monthly pension income in Croatia
- Croatia average state pension – 2,500 HRK per month = 331 GBP
So the more generous UK state pension provides over double the income when converted to kuna in Croatia. This makes Croatia a popular retirement destination for pensioners looking to stretch their pounds.
Principles of Currency Conversion
Some key principles to understand when converting between British pounds (GBP) and Croatian kuna (HRK):
- The exchange rate fluctuates over time based on macroeconomic factors and currency supply and demand.
- Higher exchange rates indicate a weaker currency (e.g. a high GBP/HRK rate means it takes more kuna to buy pounds)
- Currencies are traded in pairs (GBP/HRK) but exchange rates can be inverted to calculate cross rates (GBP/USD and HRK/USD can determine GBP/HRK)
- Retail exchange rates include a slight markup from mid-market rates
- Large transfers get better exchange rates compared to small amounts
Being aware of these principles allows you to better understand daily fluctuations in pound-kuna exchange rates.
Current Accounts and Cards in Each Currency
For frequent travel between the UK and Croatia, it may be useful to open bank accounts and get payment cards denominated in each currency:
Pound Sterling Accounts/Cards
- UK current accounts from banks like HSBC, Barclays, Lloyds
- Travel money and multi-currency cards from Caxton FX, Revolut, Wise
- Debit/credit cards from UK providers
Croatian Kuna Accounts/Cards
- Croatian kuna accounts from banks like Zagrebačka banka, PBZ, Erste
- Prepaid travel cards like X-Card, Aircash kartica
- Local Croatian debit cards
This makes it easier to pay for items directly in the required currency and avoid costly exchange fees.
Currency Risks and Mitigation
When dealing with pound-kuna conversions, it is important to understand and mitigate currency risks including:
- Exchange rate volatility eroding profits – use hedging instruments like forwards/futures contracts to lock in rates
- Sudden devaluation of a currency – diversify assets and income streams across both currencies
- Transaction costs from multiple conversions – use multi-currency accounts and cards
- Counterparty risk when sending large transfers – use regulated FX providers and split payments
- Obtaining fraudulent or expired currency – only exchange money through reputable banks and dealers
Staying aware of these risks and taking steps to mitigate them allows both individuals and businesses to operate more securely between the UK and Croatia.
Bottom Line
Understanding exchange rates is crucial for converting between British pounds and Croatian kuna accurately. While the rate fluctuates daily, currently 1 GBP is worth approximately 7.55 HRK.
This exchange allows for cost and income comparisons – revealing Croatia’s relative affordability for British tourists and expats. By being mindful of currency dynamics, risks, and mitigation strategies, individuals and businesses can operate smoothly across borders.
