followed suit on January 1, 2001. The Vatican City is also participating in the changeover. This changeover is now complete.

It is worth noting that any place that previously used one or more of the currencies listed below has now also adopted the Euro. This applies to territories of Euro-zone countries as well as to places that do not have their own currency per se. Examples include Andorra, the Azores, the Balearic Islands, the Canary Islands, Europa Island, French Guyana, Guadeloupe, Juan de Nova, the Madeira Islands, Martinique, Mayotte, Monaco, Reunion, Saint Pierre and Miquelon, Saint-Martin, and San Marino.

Euro bank notes and coins began circulating in the above countries on January 1, 2002. At that time, all transactions in those countries were valued in Euro, and the "old" notes and coins of these countries were gradually withdrawn from circulation. The precise dates that each "old" currency ceased being legal tender are noted in the table below.

Official Fixed Euro Rates for Participating Countries

These are the exact official rates used in conversion.

Legacy (Old) Currency --Conversion to Euro --Conversion from Euro --Legal Tender Ends

ATS Austria, Schilling ATS / 13.7603 = EUR EUR × 13.7603 = ATS February 28, 2002

BEF Belgium, Franc BEF / 40.3399 = EUR EUR × 40.3399 = BEF February 28, 2002

DEM Germany, Deutsche Mark DEM / 1.95583 = EUR EUR × 1.95583 = DEM February 28, 2002

ESP Spain, Peseta ESP / 166.386 = EUR EUR × 166.386 = ESP February 28, 2002

FIM Finland, Markka FIM / 5.94573 = EUR EUR × 5.94573 = FIM February 28, 2002

FRF France, Franc FRF / 6.55957 = EUR EUR × 6.55957 = FRF February 17, 2002

GRD Greece, Drachma GRD / 340.750 = EUR EUR × 340.750 = GRD February 28, 2002

IEP Ireland, Pound IEP / 0.787564 = EUR EUR × 0.787564 = IEP February 9, 2002

ITL Italy, Lira ITL / 1936.27 = EUR EUR × 1936.27 = ITL February 28, 2002

LUF Luxembourg, Franc LUF / 40.3399 = EUR EUR × 40.3399 = LUF February 28, 2002

NLG The Netherlands, Guilder NLG / 2.20371 = EUR EUR × 2.20371 = NLG January 28, 2002

PTE Portugal, Escudo PTE / 200.482 = EUR EUR × 200.482 = PTE February 28, 2002

VAL Vatican City, Lira VAL / 1936.27 = EUR EUR × 1936.27 = VAL February 28, 2002

For convenience, and because their values are now irrevocably set against the Euro as listed above, the XE.com Universal Currency Converter will continue to support these units even after their withdrawal from circulation. In addition, most outgoing Euro currencies will still be physically convertible at special locations for a period of several years. For details, refer to the official Euro site as listed in the Relevant Links section below.

Also note that the Euro is not just the same thing as the former European Currency Unit (or "ECU"), which used to be listed in our services as "XEU". The ECU was a theoretical "basket" of currencies rather than a currency in and of itself, and no "ECU" bank notes or coins ever existed. At any rate, the ECU has been replaced by the Euro, which is a bona fide currency.

A note about spelling and capitalization: the official spelling of the EUR currency unit in the English language is "euro", with a lower case "e". However, the overwhelmingly prevailing industry practise to spell it "Euro", with a capital "E". Since other currency names are capitalized in general use, doing so helps differentiate the noun "Euro", meaning EUR currency, from the more general adjective "euro", meaning anything even remotely having to do with Europe. This is particularly pervasive in marketing and advertising, where it is common to read statements like, "Try new Goop™ hair gel with genuine euro style and hold!" Nevertheless, this linguistic nuance is very subtle, even for native English speakers. it is also important to note that many languages have different official spellings of the name or EUR unit, which also may or may not coincide with general use.

For more information on the EUR, we encourage you to visit the Websites listed below, particularly the official one. These sites include recent news on the Euro as well as issues like implementation, spelling, legislation, and many more.

Answers to Common Questions

Where can I find a tool to calculate amounts involving Euro?

What do Euro coins look like?

What do Euro bank notes look like?

Where can I download the Euro logo?

How do I enable Euro support for my computer?

Where can I download fonts including the Euro symbol?

Relevant Links

XE.com's Universal Currency Converter (Easy currency calculations to and from the Euro)

European Central Bank (EBC) Euro Website

European Union On-Line (Europa) Euro Essentials (Last updated June 2002)

The European Parliament

The Council of the European Union

The European Central Bank

The European Investment Bank

The Association for the Monetary Union of Europe

Financial Europe / L'Agence Financière et Européenne (French / Français)

EmuNet

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