Introducing the Euro:

The Euro is the new 'single currency' of the European Monetary Union, adopted on January 1, 1999 by 11 Member States. Greece became the 12th Member state to adopt the Euro on January 1, 2001. On January 1, 2002, these 12 countries officially introduced the Euro banknotes and coins as legal tender. Slovenia became the 13th member state to adopt the Euro on January 1, 2007.

 

The irrevocable conversion rates for the Euro, along with the last day for the individual currencies of each of the Member States was:

 

Irrevocable conversion rate Last day
1 EUR = 40.3399 BEF BE Feb. 28, 2002
  = 1.95583 DEM DE Dec 31, 2001
  = 166.386 ESP ES Feb. 28, 2002
  = 6.55957 FRF FR Feb. 17, 2002
  = 0.787564 IEP IE Feb. 09, 2002
  = 1936.27 ITL IT Feb. 28, 2002
  = 40.3399 LUF LU Feb. 28, 2002
  = 2.20371 NLG NL Jan. 28, 2002
  = 13.7603 ATS AT Feb. 28, 2002
  = 200.482 PTE PT Feb. 28, 2002
  = 5.94573 FIM FI Feb. 28, 2002
As of January 1, 2001:  
  = 340.750 GRD GR Feb. 28, 2002
As of January 1, 2007:  
  = 239.640 SIT SI Jan. 14, 2007
As of January 1, 2008:  
  = 0.585274 CYP CY Jan. 31, 2008
  = 0.429300 MTL MT Jan. 31, 2008
As of January 1, 2009:  
  = 30.1260 SKK SKK Jan. 16, 2009
As of January 1, 2011:  
  = 15.6466 EEK EEK Dec. 31, 2010

 

Euro Banknotes and Coins Calendar:

  • Mid December, 2001: introduction of notes and coins.
  • January 1, 2002: new currency becomes legal tender. Old currency can no longer be used for non-cash transactions, such as bank transfers and checks. The individual currencies will remain as legal tender until the dates listed below:
Country Currency Name Convert by
Germany German mark Dec. 31, 2001
The Netherlands Dutch guilder Jan. 28, 2002
Ireland Irish punt Feb. 9, 2002
France French franc Feb. 17, 2002
Austria Austrian schilling Feb. 28, 2002
Belgium Belgian Franc Feb. 28, 2002
Finland Finnish markka Feb. 28, 2002
Greece Greek drachma Feb. 28, 2002
Italy Italian Lira Feb. 28, 2002
Luxembourg Luxembourg franc Feb. 28, 2002
Portugal Portuguese escudo Feb. 28, 2002
Spain Spanish peseta Feb. 28, 2002
Slovenia Slovenian tolar Jan. 14, 2007
Cyprus Cypriot Pound Jan. 31, 2008
Malta Maltese Lira Jan. 31, 2008

June 30, 2002 was the last day for changing old currency to Euro at any bank for the original twelve member states. Thereafter: old currency can be exchanged at national central banks and some specially designated banks.

Euro Denominations:
Euro Notes and CoinsNotes: 500, 200, 100, 50, 20, 10, 5
Coins: 2, 1, 50, 20, 10, 5, 2, 1

Take a look at Euro notes and coins in fxGallery

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