Status

Euro-area member since 1 January 1999

Fixed conversion rate

€1 = 1.95583 DEM

Adoption of the euro

The euro banknotes and coins were introduced in Germany 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 legal tender status of the German mark banknotes and coins ended on 31 December 2001, but they were accepted as payment until 28 February 2002 by virtue of a joint declaration from retail and banking associations.

 

 

Exchange of former national currency

 

 

 

Deutsche Bundesbank (National Central Bank of Germany) will continue to exchange unlimited amounts of mark notes and coins for an unlimited period.

Institutions