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Currencies of the European Union. Eurozone European Union

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Currencies of the European Union. Eurozone European Union CURRENCIES OF THE EUROPEAN UNION. EUROZONE EUROPEAN UNION The European Union (EU) is an economic and political union of 28 member states which are located primarily in Europe. The EU traces its origins from the European Coal and Steel Community (ECSC) and the European Economic Community (EEC), formed by six countries in 1958. CURRENCIES OF THE EUROPEAN UNION As of 2015 there are 11 currencies; The principal currency - Euro (used by 19 members of the EU – Eurozone); All but 2 states are obliged to adopt the currency: Denmark and the United Kingdom, through a legal opt-out from the EU treaties, have retained the right to operate independent currencies within the European Union. The remaining 8 states must adopt the Euro eventually. CURRENCIES OF THE EUROPEAN UNION № Currency Region Year Euro adoption plans 1 Euro Eurozone 1999/2002 Also used by the institutions 2 Bulgarian lev Bulgaria 2007 No target date for euro adoption British pound sterling United Kingdom 3 1973 Opt-out Gibraltar pound Gibraltar 4 Croatian kuna Croatia 2013 No target date for euro adoption 5 Czech koruna Czech Republic 2004 No target date for euro adoption 6 Danish krone Denmark 1973 Opt-out 7 Hungarian forint Hungary 2004 No target date for euro adoption 8 Polish złoty Poland 2004 No target date for euro adoption 9 Romanian leu Romania 2007 Official target date: 1 January 2019 10 Swedish krona Sweden 1995 Pending referendum approval Also unofficially used in Büsingen Campione 11 Swiss franc 1957 am Hochrhein, Germany. Swiss d'Italia(Italy) Franc is issued by Switzerland. EUROZONE The European Union consists of those countries that meet certain membership and accession criteria. The Eurozone is a subset of those countries using the euro as their national currency. The Eurozone includes 19 countries. European Central Bank (ECB) sets the monetary policy of the zone. The principal task of the ECB is to keep inflation under control. ECB takes all the powers in monetary policy, including the issue of banknotes and the level of the key interest rate. THE EUROZONE CONSISTS OF: Pre-Euro № State Adopted to Euro Exceptions currency 1 Austria 1999 Schilling 2 Belgium 1999 Franc 3 Cyprus 2008 Pound Northern Cyprus – Turkish lira 4 Estonia 2011 Kroon 5 Finland 1999 Markka New Caledonia , French Polynesia , 6 France 1999 Franc Wallis and Futuna – CFP franc 7 Germany 1999 Mark 8 Greece 2001 Drachma 9 Ireland 1999 Pound 10 Italy 1999 Lira Campione d'Italia – Swiss franc 11 Latvia 2014 Lats 12 Lithuania 2015 Litas 13 Luxembourg 1999 Franc 14 Malta 2008 Lira Aruba – Aruban florin Curaçao, Sint Maarten – Netherlands 15 Netherlands 1999 Guilder Antillean guilder, Caribbean guilder Caribbean Netherlands – USD 16 Portugal 1999 Escudo 17 Slovakia 2009 Koruna 18 Slovenia 2007 Tolar 19 Spain 1999 Peseta EURO The euro is the second largest reserve currency as well as the second most traded currency in the world after the United States dollar. Sign € Code EUR Coins 1c, 2c, 5c, 10c, 20c, 50c, €1, €2 Banknotes €5, €10, €20, €50, €100, €200,€500 • 16 December 1995 – the name euro was officially adopted; • 1 January 1999 – the euro was introduced to world financial markets as an accounting currency, replacing European Currency Unit (ECU); • 1 January 2002 – physical euro coins and banknotes entered into circulation. BULGARIAN LEV The lev is the currency of Bulgaria. In archaic Bulgarian the word "lev" meant "lion". Sign лв Code BGN Coins 1, 2, 5, 10, 20, 50 stotinki, 1 lev Banknotes 2, 5, 10, 20, 50, 100 leva • 1881 – the lev was introduced as Bulgaria's currency • 1952 – following wartime inflation, a new lev replaced the original lev • 1962 – another redenomination of lev took place BRITISH POUND STERLING The pound sterling - commonly known simply as the pound, is the official currency of the United Kingdom, Jersey, Guernsey, the Isle of Man, South Georgia and the South Sandwich Islands, the British Antarctic Territory. The pound sterling is the world's oldest currency still in use and which has been in continuous usage since its inception. It dates from around 1300 and comes from the Norman silver pennies. Sterling is the 4th most traded currency in the foreign exchange market. Sign £ Code GBP Coins Freq. used 1p, 2p, 5p, 10p, 20p, 50p, £1, £2 Rarely used 3p, 4p, 25p, £5, £20, £100, £500 (Silver Kilo), £1,000 (Gold Kilo) Banknotes Freq. used £5, £10, £20, £50 Rarely used £1, £100 GIBRALTAR POUND The Gibraltar pound is the currency of Gibraltar. It is pegged to – and exchangeable with – the British pound sterling at par value. Government of Gibraltar is responsible for minting coins and printing notes. 1988 - were introduced coins with specific designs and the name of Gibraltar. Sign £ Code GIP Coins 1p, 2p, 5p, 10p, 20p, 50p, £1, £2, £5 Banknotes £5, £10, £20, £50, £100 CROATING KUNA The kuna is the currency of Croatia since 1994. It is subdivided into 100 lipa. The word "kuna" means "marten" in Croatian since it is based on the use of marten pelts as units of value in medieval trading. Sign kn Code HRK Coins Freq. used 5, 10, 20, 50 lipa, 1, 2, 5 kn Rarely used 1, 2 lipa, 25 kn Banknotes Freq. used 10, 20, 50, 100, 200, 500 kn Rarely used 5, 1000 kn CZECH KORUNA Sign Kč Code CZK The Czech Coins koruna or Czech Freq. used 1, 2, 5, 10, 20, 50 Kč crown has been the Banknotes currency of the Czech Freq. used 100, 200, 500, 1000, 2000 Kč Republic since 8 Rarely used 5000 Kč February 1993. The Czech koruna replaced the Czechoslovak koruna when it was introduced after the dissolution of Czechoslovakia DANISH KRONE The krone is the official currency of Denmark, Greenland and the Faroe Islands, introduced on 1 January 1875. The currency is sometimes referred to as the Danish crown in English, since ”krone” literally means ”crown”. Historically, krone coins have been minted in Denmark since the 17th century. Sign kr Code DKK Coins 50-øre, 1, 2, 5, 10, 20 kroner Banknotes 50, 100, 200, 500, 1000 kroner HUNGARIAN FORINT The forint is the currency of Hungary. It is divided into 100 fillér, although fillér coins are no longer in circulation. The introduction of the forint on 1 August 1946 was a crucial step of the post-WWII stabilization of the Hungarian economy. The forint's name comes from the city of Florence, where golden coins were minted from 1252 called fiorino d'oro. Sign Ft Code HUF Coins 5 Ft, 10 Ft, 20 Ft, 50 Ft, 100 Ft, 200 Ft Banknotes 500 Ft, 1000 Ft, 2000 Ft, 5000 Ft, 10,000 Ft, 20,000 Ft POLISH ZŁOTY The złoty is the currency Sign zł of Poland. Literally it Code PLN 1gr, 2gr, 5gr, 10gr, 20gr, 50gr, Coins means "golden“. 1zł, 2zł, 5zł The złoty is a traditional Banknotes 10zł, 20zł, 50zł, 100zł, 200zł Polish currency dating back to the Middle Ages. In the 14th and 15th centuries, the name was used for all kinds of foreign gold coins used in Poland. ROMANIAN LEU The leu is the currency of Romania. The name of the currency means "lion“. It is subdivided into 100 bani. The first leu coin was minted in Romania in 1870. Sign Leu Code RON Coins Freq. used 5, 10, 50 bani Rarely used 1 ban, Banknotes Freq. used 1 leu, 5, 10, 50, 100, 200 lei Rarely used 500 lei SWEDISH KRONA The krona has been the currency of Sweden since 1873. The Swedish krona was the 11th most traded currency in the world. One krona is subdivided into 100 öre . However, all öre coins have been discontinued. Goods can still be priced in öre, but all sums are rounded to the nearest krona when paying with cash. Sign kr Code SEK Coins Freq. used 1 kr, 5 kr, 10 kr Banknotes Freq. 20 kr, 50 kr, 100 kr, 200 kr, used 500 kr SWISS FRANC The franc is the currency and legal tender of Switzerland and Liechtenstein; it is also legal tender in the Italian exclave Campione d'Italia. The Swiss National Bank (SNB) issues banknotes and the federal mint Swissmint issues coins. Sign Fr Code CHF Coins 5, 10 & 20 centimes, 1⁄2, 1, 2 & 5 francs Banknotes 10, 20, 50, 100, 200 & 1,000 francs THANKS FOR YOUR ATTENTION!.
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