What is the currency of Finland? The official currency used in Finland is the euro. Originally, Finland used the Finnish mark as legal tender, which was abbreviated as MK and had the FIM currency code.
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| What is the currency of Finland? |
The official currency used in Finland is the euro. Originally, Finland used the Finnish mark as legal tender, which was abbreviated as MK and had the FIM currency code.
After going through a transition period from 1999 to 2002, the euro became the official legal tender in 2002. Markka's legal double currency system and the euro ended on February 28, 2002.
Finnish Currency History
The National Bank of Finland introduced the Finnish markka in 1860, which led to the replacement of the first Russian ruble at the rate of one ruble for every four Finnish marks.
In 1865, the Finnish markka was tied to silver and separated from the Russian ruble. The Gold Standard valuation system of the Latin Monetary Union was adopted by the Finnish government in 1878-1915 and during the First World War the markka fluctuated unevenly.
The inflation rate varied between -16 and + 23. After the country gained independence in 1917, the gold standard system was restored in the nation.
Finnish euro coins
The Finnish Euro coins have three designs, the Heikki Haivaoja design adopted by one cent and 50 coins, the two Euro coin designed by Ramao Heino and the Euro 1 coin designed by Perti Makinen. The Goldenberry of northern Finland is printed in a two-euro coin.
Finnish Euro Design
The process of minting the first set of Finnish euros began in 1999. Although the minting of the coins began earlier to prepare for the transition process, the introduction of the coins did not come until 2002.
However, the coins have date 1999. All The euros minted between 1999 and 2006 have the inscription "M" on them, an abbreviation of the country's coinage master, Raimo Makomen. In December 2006, the National Bank decided to modify the rules on coin minting.
The new rule allowed all member states that issued the currency to add the name of the nation in the currencies. For Finland, the name was abbreviated as FI. Finland became the first country in the European Monetary Union to make improvements in the currency.
Bank Notes
The first Finnish markka notes were designed and issued in 1980 and 1986 respectively. A note of 20 markka had a picture of Vainio Lina fraudulently; The bank had not received the copyright of the owners.
The fraud was discovered later after several million notes in circulation. Markka's second series of notes came into use in 1955 and were revised in 1965. Topia Wirkkala designed the new invoice.
euros
Finland is among the members of the euro area, where the euro is the currency used. The first series of the euro was introduced in 2002 and has been in circulation since then.
Unlike euro coins, euro banknotes have the same design throughout the euro area. Their denominations are found in 5, 10, 20, 50, 100, 200 and 500. They are made of pure cotton fiber to increase their durability and give the note a different texture.
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