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Luxembourg and the euro

Luxembourg is a founding member of the European Union and one of the first-wave countries to adopt the euro on 1 January 1999.

Luxembourg at a glance

Surface area: 2 590 km2
Population: 491 702 (Eurostat 2009)
Joined the European Union: founding member (25 March 1957)
Currency: Euro since 1 January 1999 (formerly Luxembourg franc, LUF)

Euro information

Status: Euro-area member since 1 January 1999.

Fixed conversion rate: €1 = 40.3399 LUF

Adoption of the euro: The euro banknotes and coins were introduced in Luxembourg on 1 January 2002, after a transitional period of three years when the euro was the official currency but only existed as 'book money'. The dual circulation period – when both the LUF and the euro had legal tender status – ended on 28 February 2002.

Exchange of former national currency: The Banque centrale du Luxembourg (National Central Bank of Luxembourg) exchanged national coins until 31 December 2004 and will continue to exchange national banknotes for an unlimited period.

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