Eesti Pank was established in 1919 as the central bank of Estonia. In 1928, an up-to-date monetary system was established tying the Estonian kroon to the British pound. In 1992, after being occupied by the Soviet Union and using the Russian ruble, Estonia reestablished its independence and the kroon became the sole legal tender once again on June 20, 1992. Eesti Pank operates Estonia's monetary system with the primary goal of ensuring price stability through maintaining a fixed exchange rate between the kroon and the euro in a currency board arrangement.