Note: This currency has been replaced by the Euro.
Overview
The Dutch Guilder was the official currency of the Netherlands from the 17th century to 2002. In 1999 and 2002, when Euro began circulating, the Guilder was only an official subunit currency. The Guilder was the only currency used for payments, since there were no Euro coins and banknotes available. The Dutch name gulden means golden, which indicates that the coin was originally made of gold.
Economy
The Netherlands has a prosperous and open economy, which depends heavily on foreign trade.
The economy is noted for stable industrial relations; it has a low unemployment rate, large current trade surpluses, and is a major European shipping center.
The agricultural sector employs only about 2% of the workforce, yet it provides a huge excess for export by the food processing industry.
The Netherlands is considered one of the leading European countries in attracting foreign investors.
The Netherlands government is planning to stimulate the economy by pursuing previously planned projects and implementing fundamental reforms for long-term revitalization.
History
In 1680, the first Guilder was casted by West Friesland and the States of Holland.
In 1810 and 1814, the Netherlands was seized by France, which made the French Franc the official currency.
After the Napoleonic wars, the Netherlands went back to using the Guilder.
On January 1, 2002, the Guilder was replaced by the Euro. The Netherlands and 11 countries of the EU began using the Euro.
Guilder coins were not replaced by Euro coins by the Central Bank of Netherlands until January 1, 2007.
Banknotes valid during the time of conversion to the Euro can be replaced until January 1, 2032.
