Estonia adopted the euro on 1 January 2011, replacing the kroon as the country’s official currency.
Eesti Pank, the Central Bank of Estonia, will begin producing euro banknotes for the first time this year. Eesti Pank, alongside other euro countries, must provide euro banknotes each year via a joint procurement with other euro countries. This volume is determined by the Governing Council of the European Central Bank (ECB) and Eesti Pank will be responsible for producing €20 denomination banknotes, which will be added to the Euro-system’s common cash stock. Eesti Pank is also obliged to return to the Euro-system the banknotes borrowed for the euro changeover.
The Estonian Central Bank does not produce banknotes itself, instead employing the services of a specialised printer, though it is not yet publicly known which has been selected by Eesti Pank.