Status

Euro-area member since 1 January 1999.

Fixed conversion rate

€1 = 5.94573 FIM

Adoption of the euro

The euro banknotes and coins were introduced in Finland 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 Finnish markka and the euro had legal tender status – ended on 28 February 2002.

Exchange of former national currency

The Suomen Pankki (National Bank of Finland) will continue to exchange markka banknotes and coins until 29 February 2012, although some exceptions apply to old markka coins annulled before the euro changeover.

Markka banknotes are also redeemed by commercial banks (Nordea and Sampo), co-operative banks, saving banks, and Forex Oy.

Institutions