to the pre-war Eesti Pank to Estonia. The restoration of the membership of Eesti Pank in the Bank for International Settlements was accompanied by the restoration of its rights to the gold and other assets deposited there. Reserve felling areas from the State Forest Fund worth 150 million dollars were also included in the balance sheet of Eesti Pank as an additional foreign currency reserve (although the latter had more a moral and an emotional value for the general public than a practical one). Reintroduction of the kroon The new banknotes (the second kroon) reached Estonia in April 1992. The Estonian kroon was pegged to the German Deutschmark to ensure stability. The German Bundesbank was informed of this. The Estonian kroon was declared the sole legal tender in circulation and Eesti Pank the only regulator of monetary relations in Estonia. Within three days, 1500 rubles were exchanged to krooni for each resident natural person at the rate of 1 kroon = 10 rubles. Almost the entire amount of rubles in circulation in Estonia was exchanged to kroons at the same rate (deposits, money held by enterprises, etc.). The rate was considered under-priced by many opponents, but it actually corresponded to the market rate of that time. Time and the later course of events have indisputably proven the correctness of the choice made. All the laws and other legal acts planned for the beginning of the monetary reform came into effect. Eesti Pank began to publish daily exchange rates of the Estonian kroon against the most important foreign currencies. 2011: Introduction of the euro With the introduction of the euro on 1 January 2011, the Bank of Estonia became a member of the Eurosystem or the system of Eurozone central banks that of that collectively set and implement the zone's monetary policy. Some of the functions of the bank were taken over by the European Central Bank. Other functions, as well as membership to the European System of Central Banks remained. Chairmen Mihkel Pung (March 1919 – August 1919) Eduard Aule (October 1921 – October 1925) Artur Uibopuu (October 1925 – November 1926) Jüri Jaakson (November 1926 – July 1940) (July 1940 – October 1940; ?) (1944–1949; in exile) (21 January 1968 – 31 December 1980; in in exile) Rein Otsason (28 December 1989 – 23 September 1991) Siim Kallas (23 September 1991 – 27 April 1995) Vahur Kraft (27 April