"""penniä"", ), postfixed ""p"". At the point of conversion, the rate was fixed at €1 = 5.94573 mk. The markka was introduced in 1860 by the Bank of Finland, replacing the Russian ruble at a rate of four markkaa to one ruble. Senator Fabian Langenskiöld is called ""father of markka"". In 1865 the markka was separated from the Russian ruble and tied to the value of silver. From 1878 to 1915, Finland adopted the gold standard of the Latin Monetary Union. Before markka there were Swedish riksdaler and Russian ruble used side-by-side for a time. Up to World War 1,"
"some opinions years overdue, the artificial fixed exchange rate was abandoned and the markka was floated. Its value immediately decreased 13% and the inflated nominal prices converged towards German levels. In total, the value of the markka had decreased 40% as a result of the recession. Also, as a result, several entrepreneurs who had borrowed money denominated in foreign currency suddenly faced insurmountable debt. Inflation was low during the markka's independent existence as a floating currency (1992–1999): 1.3% annually on average. The markka was added into the ERM system in 1996 and then became a fraction of the euro in"
"the euro coins of Estonia, Greece, Luxembourg, Slovenia, Cyprus and Ireland as well as the coins of the Swedish crown since 2008, which ended the more than thousand-year-old minting tradition in Sweden. Mint of Finland The Mint of Finland (, ) is the national mint of Finland. It was established by the Alexander II of Russia in 1860 as the markka became the official currency of the Grand Duchy of Finland. The mint was first located in the Katajanokka district of Helsinki and in 1988 the new production facility was opened in Vantaa. Mint of Finland has been a public"
"on 1 January 1999. The national currency markka (FIM) was withdrawn from circulation and replaced by the euro (EUR) at the beginning of 2002. The following table shows the main economic indicators in 1980–2017. Inflation under 2 % is in green. Finland's climate and soils make growing crops a particular challenge. The country lies between 60° and 70° north latitude - as far north as Alaska - and has severe winters and relatively short growing seasons that are sometimes interrupted by frosts. However, because the Gulf Stream and the North Atlantic Drift Current moderate the climate, and because of the"
"Polish marka The marka (, Polish mark, abbreviated ""mp"", Polish-language plural declensions: ""marki, marek"") was the currency of the Kingdom of Poland and of the Republic of Poland between 1917 and 1924. It was subdivided into 100 ""fenigs"" (a Polish spelling of German ""pfennig""), much like its German original after which it was modelled (see ""German mark). During the World War I, in 1915, after defeating the Russians, the Central Powers occupied the whole territory of the former Congress Poland and appointed two Governors General: a German (Hans Hartwig von Beseler) in Warsaw and an Austro-Hungarian () in Lublin. The"
"The sometimes used ""old markka"" can be misleading, since it can also be used to refer to the pre-1963 markka. In Helsinki slang, a hundred markkaa was traditionally called ""huge"" [hu.ge] (from Swedish ""hundra"" ""hundred""). After the 1963 reform this name was used for one new markka. When the markka was introduced, coins were minted in copper (1, 5 and 10 penniä), silver (25 and 50 penniä, 1 and 2 markkaa) and gold (10 and 20 markkaa). After the First World War, silver and gold issues were ceased and cupro-nickel 25 and 50 penniä and 1 markka coins were introduced"
"rates from a low base; but output growth slowed in 2000–02. Part of the lag in output was made up in 2003–05. National-level statistics are limited and do not capture the large share of black market activity. The konvertibilna marka (convertible mark or BAM) - the national currency introduced in 1998 - is pegged to the euro, and confidence in the currency and the banking sector has increased. Implementation of privatization, however, has been slow, and local entities only reluctantly support national-level institutions. Banking reform accelerated in 2001 as all ; foreign banks, primarily from Western Europe, now control most"
"Mark (currency) The mark was a currency or unit of account in many nations. It is named for the mark unit of weight. The word ""mark"" comes from a merging of three Teutonic/Germanic words, Latinised in 9th-century post-classical Latin as ', ', ' or '. It was a measure of weight mainly for gold and silver, commonly used throughout Western Europe and often equivalent to eight ounces. Considerable variations, however, occurred throughout the Middle Ages. As of 2018, the only circulating currency named ""mark"" is the Bosnia and Herzegovina convertible mark. ""Mark"" can refer In England the ""mark"" never appeared"
"Market as a member of the European Union, and is therefore a part of the economy of the European Union, but uses its own currency, the Czech koruna, instead of the euro. It has a per capita GDP rate that is 89% of the EU average and is a member of the OECD. Monetary policy is conducted by the Czech National Bank, whose independence is guaranteed by the Constitution. , the Czech GDP per capita at purchasing power parity is $35,223 (similar to Israel, Italy or Slovenia), $20,152 at nominal value and the GDP growth was 4.5% in 2017, giving"
"Mint of Finland The Mint of Finland (, ) is the national mint of Finland. It was established by the Alexander II of Russia in 1860 as the markka became the official currency of the Grand Duchy of Finland. The mint was first located in the Katajanokka district of Helsinki and in 1988 the new production facility was opened in Vantaa. Mint of Finland has been a public limited company since 1993. Today it is the owner of the Swedish mint, the Myntverket, and owns half of the shares of the Royal Norwegian Mint. The Mint of Finland has produced"
"1 January 2002, when it replaced the national banknotes and coins of the countries in eurozone 12, such as the Finnish markka. Slovenia joined the Eurozone in 2007, Cyprus and Malta in 2008, Slovakia in 2009, Estonia in 2011, Latvia joined on 1 January 2014 and Lithuania joined on 1 January 2015. The changeover period during which the former currencies' notes and coins were exchanged for those of the euro lasted about two months, from 1 January 2002 until 28 February 2002. The official date on which the national currencies ceased to be legal tender varied from member state to"
"currency for each note of a foreign government held, as Ecuador currently does. Each currency typically has a main currency unit (the dollar, for example, or the euro) and a fractional unit, often defined as of the main unit: 100 cents = 1 dollar, 100 centimes = 1 franc, 100 pence = 1 pound, although units of or occasionally also occur. Some currencies do not have any smaller units at all, such as the Icelandic króna. Mauritania and Madagascar are the only remaining countries that do not use the decimal system; instead, the Mauritanian ouguiya is in theory divided into"
"financial reforms devised by politician and economist Władysław Grabski were instituted. The Bank Polski was proclaimed as the new central bank of Poland. The marka was exchanged for a new, gold-based currency, the złoty, at the rate of 1,800,000 markas to 1 złoty. One American dollar was then worth 5.18 złotys—or 9,324,000 Polish markas. Exchange rate of 1 United States dollar to Polish marka: Polish marka The marka (, Polish mark, abbreviated ""mp"", Polish-language plural declensions: ""marki, marek"") was the currency of the Kingdom of Poland and of the Republic of Poland between 1917 and 1924. It was subdivided into"
"and could be transferred by endorsement, and were accepted as payment. They could also be redeemed. This currency proved to be very stable. Following German unification in 1871, the country adopted the German gold mark (officially known just as the ""mark"") as its currency in 1873. The name was taken from the mark banco. Initially, the coins and banknotes of the various predecessor currencies, such as the , the , and the guilder, continued to circulate, and were treated as fixed multiples of the new unit of account, similarly to the introduction period of the euro between 1999 and 2002."
"an economist at the IMF at the time, wrote ""Crnogorska marka"", a book published in Montenegro, proposing an orthodox currency board for Montenegro, which was part of the Federal Republic of Yugoslavia. Montenegro would issue a Montenegrin ""marka"" to replace the Yugoslav dinar. Later that year in July 1999, Hanke was appointed State Counselor – a cabinet-level position – and began advising Montenegrin President Milo Đukanović on issues including currency reform. After assessing the political and economic realities on the ground, Hanke advised Đukanović that Montenegro should abandon the faltering Yugoslav dinar and adopt a foreign currency, the German mark,"
"why one can use either the West African CFA franc (Niger's official currency) or the Nigerian Naira for currency in Maradi. The city lies in a region known for groundnut farming. Attractions in Maradi include the Dan Kasswa Mosque, the Centre Artisanal (traditional handcrafts) in the Sonitan quartier and the Katsinawa Provincial Chief's Palace, but much of the rest of the city dates from the 1950s and later and is becoming industrialised. The central Market, the ""Maradi grand-marché"", is a large daily market of wholesale, retail, and agricultural goods from across south central Niger and the major pont of cross"
"was driven by the need to comply with international practices and to beat counterfeiters. Uganda is the first African country to introduce the advanced security feature SPARK on a regular banknote series. SPARK is an optical security feature recognised by central banks worldwide and is used on a number of banknotes for protection against counterfeiting. As of 22 August 2011, one US dollar (USD) equaled to 2,800 Ugandan Shillings (UGX). The exchange rate dropped to USD 1 = UGX 2,901 in September 2011, and it bounced back to USD 1 = UGX 2,303 on 13 February 2012. Ugandan shilling The"
"Bosnia and Herzegovina convertible mark The Bosnia and Herzegovina convertible mark (Bosnian, Croatian, Serbian: , Cyrillic: ); sign: KM; code: BAM) is the currency of Bosnia and Herzegovina. It is divided into 100 ' or ' (Bosnian, Croatian, Serbian: /; Cyrillic: /), and locally abbreviated ""KM"". The convertible mark was established by the 1995 Dayton Agreement. It replaced the Bosnia and Herzegovina dinar, Croatian kuna and Republika Srpska dinar as the single currency of Bosnia and Herzegovina in 1998. ""Mark"" refers to the German mark, the currency to which it was pegged at par. The names derive from the German"
"of monetary unit – the Hryvnia. To carry out its main function, the National Bank shall foster the stability of the banking system and, within its competence, the price stability. According to the Law of Ukraine ""On the National Bank of Ukraine"", the National Bank is the central bank of Ukraine, a specific central body of the state administration, its issuing center which pursue common state policy in money circulation, credit, strengthening of monetary unit; it coordinates functioning of the banking system in general; determines exchange rate of the monetary unit against foreign currencies. The National Bank determines a kind"
"Centrale de Madagascar was formed. And, since 2005, the Malagasy ariary (MGA), issued by the Banque Centrale de Madagascar, has been the country's currency. The bank maintains departments of microfinance and of economic research. The BCM reports to the government agency: Commission de Supervision Bancaire et Financaire. The bank maintains 2 branches and 8 agency offices: Branches: Agency Offices: Central Bank of Madagascar The Central Bank of Madagascar (; , BCM) is the central bank of Madagascar. The bank's mission is to, in collaboration with the general government, and in observation of the laws of finance, to maintain the general"
"official currency. The euro is only used in the government-controlled areas of the Republic, the Sovereign Base Areas of Akrotiri and Dhekelia (under UK jurisdiction, outside the EU) and in the United Nations Buffer Zone in Cyprus. The de facto Turkish Republic of Northern Cyprus continues to use the new Turkish lira as its primary currency and the euro as its secondary currency. Malta replaced the Maltese lira with the euro on 1 January 2008. The aims were officially confirmed on 26 February 2007. On 16 May 2007, the Commissioner for Economic & Financial Affairs of the EU, Joaquín Almunia,"
"Albanian lek The lek (; plural ""lekë"") (sign: L; code: ALL) is the official currency of Albania. It is subdivided into 100 ""qindarka"" (singular ""qindarkë""), although qindarka are no longer issued. The lek was introduced as the first Albanian currency in February 1926. Before then, Albania was a country without a currency, adhering to a gold standard for the fixation of commercial values. Before the First World War the Ottoman Turkish piastre was in full circulation, but following the military occupation of the country by various continental powers the gold franc (Franc Germinal) was adopted as the monetary unit. In"
"precondition. Croatia's currency, the kuna, has used the euro (and prior to that one of the euro's major predecessors, the Deutsche Mark) as its main reference since its creation in 1994, and a long-held policy of the Croatian National Bank has been to keep the kuna's exchange rate with the euro within a relatively stable range. Prior to Croatia becoming a member of the EU on 1 July 2013, Boris Vujčić, governor of the Croatian National Bank, stated that he would like the kuna to be replaced by the euro as soon as possible after accession. In 2013 the European"
"mistake, even though other banknotes with mistakes had been issued. These are the most important mistakes that have been noticed till now: Bosnia and Herzegovina convertible mark The Bosnia and Herzegovina convertible mark (Bosnian, Croatian, Serbian: , Cyrillic: ); sign: KM; code: BAM) is the currency of Bosnia and Herzegovina. It is divided into 100 ' or ' (Bosnian, Croatian, Serbian: /; Cyrillic: /), and locally abbreviated ""KM"". The convertible mark was established by the 1995 Dayton Agreement. It replaced the Bosnia and Herzegovina dinar, Croatian kuna and Republika Srpska dinar as the single currency of Bosnia and Herzegovina in"
"Ruble The ruble or rouble (; ) is or was a currency unit of a number of countries in Eastern Europe closely associated with the economy of Russia. Originally, the ruble was the currency unit of Imperial Russia and then the Soviet Union (as the Soviet ruble), and it is currently the currency unit of Russia (as the Russian ruble) and Belarus (as the Belarussian ruble). The Russian ruble is also used in the partially recognised states of Abkhazia and South Ossetia. In the past, several other countries influenced by Russia and the Soviet Union had currency units that were"
"Nigerian naira The naira (sign: ₦; code: NGN) is the currency of Nigeria. It is subdivided into 100 ""kobo"". The Central Bank of Nigeria (CBN) is the sole issuer of legal tender money throughout the Nigerian Federation. It controls the volume of money supplied in the economy in order to ensure monetary and price stability. The Currency & Branch Operations Department of the CBN is in charge of currency management, through the procurement, distribution/supply, processing, reissue and disposal/disintegration of bank notes and coins. The naira was introduced on 1 January 1973, replacing the pound at a rate of 2 naira"
"National Bank of Ukraine National Bank of Ukraine () or NBU () is the central bank of Ukraine – a government body responsible for unified state policy in the field of country's monetary circulation, including strengthening of national currency unit – hryvnia. It regulates and supervises activities, functions and legal status of government and commercial banks based on principles of the Constitution of Ukraine and the law of Ukraine ""About the National Bank of Ukraine"". Banking in Ukraine traces its history back to 1918 when on December 22, 1917, the Central Council of Ukraine adopted a law ""On transformation of"
"Armenian dram The dram (; sign: ֏; code: AMD) is the monetary unit of Armenia and the neighboring unrecognized Republic of Artsakh (Nagorno-Karabakh). It is subdivided into 100 luma (). The word ""dram"" translates into English as ""money"" and is cognate with the Greek drachma and the Arabic dirham, as well as the English weight unit dram. The first instance of a dram currency was in the period from 1199 to 1375, when silver coins called dram were issued. On 21 September 1991, a national referendum proclaimed Armenia as an independent republic from the Soviet Union. The Central Bank of"
"were introduced by the Banka e Shtetit Shqiptar in denominations of 1, 3, 5, 10, 25, 50 and 100 lekë. A second series of notes was issued in 1976 when the country changed its name to the People's Socialist Republic. On 11 July 1997, a new series of banknotes dated 1996 was introduced. Notes dated 1996 were printed by De La Rue in the United Kingdom. Albanian lek The lek (; plural ""lekë"") (sign: L; code: ALL) is the official currency of Albania. It is subdivided into 100 ""qindarka"" (singular ""qindarkë""), although qindarka are no longer issued. The lek was"
"kuna notes were withdrawn on 1 January 2010, but remain exchangeable at the HNB in Zagreb. New series of notes with similar designs but improved security features were released in 2001, 2004, 2012 and 2014. Croatian kuna The kuna is the currency of Croatia, in use since 1994 (sign: kn; code: HRK). It is subdivided into 100 lipa. The kuna is issued by the Croatian National Bank and the coins are minted by the Croatian Monetary Institute. The word """"kuna"""" means ""marten"" in Croatian, referring to the historical use of marten pelts as units of value in medieval trading. The"
"1/3 by state banks (Oshadnybank and Ukrgasbank). Dushkevych, N. and V. Zelenyuk (2007) ""Banking in Ukraine: Changes Looming?"" Beyond Transition Newsletter 17:2, (The Newsletter About Reforming Economies, THE WORLD BANK, 2007). National Bank of Ukraine National Bank of Ukraine () or NBU () is the central bank of Ukraine – a government body responsible for unified state policy in the field of country's monetary circulation, including strengthening of national currency unit – hryvnia. It regulates and supervises activities, functions and legal status of government and commercial banks based on principles of the Constitution of Ukraine and the law of Ukraine"
"in a referendum in 2003, and Sweden maintains its own currency, the Swedish krona (SEK). The Swedish Riksbank—founded in 1668 and thus making it the oldest central bank in the world—is currently focusing on price stability with its inflation target of 2%. According to ""Economic Survey of Sweden 2007"" by OECD, the average inflation in Sweden has been one of the lowest among European countries since the mid-1990s, largely because of deregulation and quick utilization of globalization. The largest trade flows are with Germany, United States, Norway, United Kingdom, Denmark and Finland. The Swedish economic picture has brightened significantly since"
"during World War I in 1917, the ruble was replaced by the marka (plurals ""marki"" and ""marek""), a currency initially equivalent to the German Papiermark. New Poland started releasing new currency – Polish marks, after the defeat of the German Empire and Austro-Hungary. The first banknotes had either Tadeusz Kościuszko (5, 10, 100, 1000 marks) or Queen Jadwiga (10 and 500 marks). 1 and 20 marks also circulated, but they showed nobody on the banknotes. The Polish marka was extremely unstable because of the constant wars with its neighbours. Attempts to reduce the expenditures of Polish budget were vain –"