Question
Download Solution PDFWhat is the name of Finland's currency?
Answer (Detailed Solution Below)
Detailed Solution
Download Solution PDFKey Points
- Euro is the official currency of Finland.
- Finland is a member of the European Union and adopted the Euro as its currency on January 1, 1999.
- The Euro is symbolized as € and its currency code is EUR.
- Prior to adopting the Euro, Finland's currency was the Finnish Markka.
- The Euro is used by 19 of the 27 European Union countries, making it one of the most widely used currencies in the world.
Additional Information
- The Euro was introduced to world financial markets as an accounting currency in 1999 and launched as physical coins and banknotes in 2002.
- The European Central Bank (ECB) is responsible for the monetary policy of the Eurozone.
- The Euro is subdivided into 100 cents.
- Finland is part of the Eurozone, which comprises countries that have adopted the Euro as their primary currency.
- Adopting the Euro has facilitated easier trade and economic stability among the Eurozone countries.
Last updated on Jun 7, 2025
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