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Introducing the Euro:
The Euro is the new 'single currency' of the European Monetary Union, adopted on January 1, 1999 by 11 Member States. Greece became the 12th Member state to adopt the Euro on January 1, 2001. On January 1, 2002, these 12 countries officially introduced the Euro banknotes and coins as legal tender. Slovenia became the 13th member state to adopt the Euro on January 1, 2007.
The irrevocable conversion rates for the Euro, along with the last day for the individual currencies of each of the Member States was:
| Irrevocable conversion rate | Last day | |||
| 1 EUR | = | 40.3399 BEF | |
Feb. 28, 2002 |
| = | 1.95583 DEM | |
Dec 31, 2001 | |
| = | 166.386 ESP | |
Feb. 28, 2002 | |
| = | 6.55957 FRF | |
Feb. 17, 2002 | |
| = | 0.787564 IEP | |
Feb. 09, 2002 | |
| = | 1936.27 ITL | |
Feb. 28, 2002 | |
| = | 40.3399 LUF | |
Feb. 28, 2002 | |
| = | 2.20371 NLG | |
Jan. 28, 2002 | |
| = | 13.7603 ATS | |
Feb. 28, 2002 | |
| = | 200.482 PTE | |
Feb. 28, 2002 | |
| = | 5.94573 FIM | |
Feb. 28, 2002 | |
| As of January 1, 2001: | ||||
| = | 340.750 GRD | |
Feb. 28, 2002 | |
| As of January 1, 2007: | ||||
| = | 239.640 SIT | |
Jan. 14, 2007 | |
| As of January 1, 2008: | ||||
| = | 0.585274 CYP | |
Jan. 31, 2008 | |
| = | 0.429300 MTL | |
Jan. 31, 2008 | |
| As of January 1, 2009: | ||||
| = | 30.1260 SKK | |
Jan. 16, 2009 | |
| As of January 1, 2011: | ||||
| = | 15.6466 EEK | |
Dec. 31, 2010 | |
Euro Banknotes and Coins Calendar:
- Mid December, 2001: introduction of notes and coins.
- January 1, 2002: new currency becomes legal tender. Old currency can no longer be used for non-cash transactions, such as bank transfers and checks. The individual currencies will remain as legal tender until the dates listed below:
| Country | Currency Name | Convert by |
| Germany | German mark | Dec. 31, 2001 |
| The Netherlands | Dutch guilder | Jan. 28, 2002 |
| Ireland | Irish punt | Feb. 9, 2002 |
| France | French franc | Feb. 17, 2002 |
| Austria | Austrian schilling | Feb. 28, 2002 |
| Belgium | Belgian Franc | Feb. 28, 2002 |
| Finland | Finnish markka | Feb. 28, 2002 |
| Greece | Greek drachma | Feb. 28, 2002 |
| Italy | Italian Lira | Feb. 28, 2002 |
| Luxembourg | Luxembourg franc | Feb. 28, 2002 |
| Portugal | Portuguese escudo | Feb. 28, 2002 |
| Spain | Spanish peseta | Feb. 28, 2002 |
| Slovenia | Slovenian tolar | Jan. 14, 2007 |
| Cyprus | Cypriot Pound | Jan. 31, 2008 |
| Malta | Maltese Lira | Jan. 31, 2008 |
June 30, 2002 was the last day for changing old currency to Euro at any bank for the original twelve member states. Thereafter: old currency can be exchanged at national central banks and some specially designated banks.
Euro Denominations: 
Notes: 500, 200, 100, 50, 20, 10, 5
Coins: 2, 1, 50, 20, 10, 5, 2, 1
Take a look at Euro notes and coins in fxGallery
Other useful links
- European Union - very comprehensive information on the introduction of Euro
- European Central Bank - the official new central bank of Europe