Basic Country Data:

• Country ISO Code: FI

• Official Language: Finnish

• Language ISO Code: fi

• Current Official Currency: Euro

• Current Currency ISO Code: EUR

Euro (EUR) — Current Official Currency

• ISO Code: EUR

• Singular Name: euro

• Plural Name: euros

• Monetary Subdivision: 1 euro = 100 cents

• Subdivision Name Singular: cent

• Subdivision Name Plural: cents

• Initial Production Date: 1999 (electronic), 2002 (physical)

• Initial Circulation Date in Finland: January 1, 2002

• Final Production Date: ongoing

• Final Circulation Date: currently in circulation

• Mint: various European mints, including the Mint of Finland (Suomen Rahapaja)

• Issuing Bank: European Central Bank (ECB)

• Coin Denominations: 1, 2, 5, 10, 20, 50 cents; 1 and 2 euros

• Banknote Denominations: 5, 10, 20, 50, 100, 200, 500 euros (500 euro note no longer issued since 2019)

• Designs / Symbols:

  • Coins of 1, 2, 5, 10, 20, and 50 cents: designed by Heikki Häiväoja, featuring a rowing boat with nine rowers symbolizing cooperation and teamwork, along with the year of minting and the twelve stars of the European Union.

  • 1 euro coin: also designed by Heikki Häiväoja, featuring the same boat.

  • 2 euro coin: designed by Pertti Mäkinen, depicting two flying swans, a symbol of purity and freedom.

  • All coins display the twelve stars of the European Union and the year of minting.

  • Banknotes: feature European architectural motifs (bridges, doors, windows) without human figures.

• Economic Historical Context:

  • Finland adopted the euro on January 1, 2002, as one of the first countries to join the Eurozone after its creation in 1999.

  • Prior to the euro, the official currency was the Finnish markka.

  • Adoption of the euro facilitated trade and economic integration within the European Union.

• Mint Locations: coins minted at various European mints, including the Mint of Finland.

• Mintages / Commemoratives:

  • Several 2 euro commemorative coins have been issued, such as the 50th anniversary of the Treaty of Rome (2007) and the 150th anniversary of the Finnish Parliament (2013).

  • Mintages vary by commemorative coin, typically between 1 to 2 million units.

• Curiosities / Commemorative Coins:

  • 1 and 2 cent coins are rarely used in Finland, with prices often rounded to the nearest 5 cents in transactions.

  • Commemorative coins highlight historical and cultural events of Finland and the European Union.

• Current Circulation Status: active and widely used throughout the country.

• Issuing Authority: European Central Bank, in coordination with the Bank of Finland.

• Relevant Legislation: European Union treaties, ECB regulations, and Finnish national laws.

• Signatories on Banknotes: President and Vice-President of the European Central Bank.

• Persons Honored on Coins and Banknotes: no individuals depicted on Finnish euro coins or banknotes, only national and European symbols.

Finnish Markka (FIM) — Former Official Currency (1860–2002)

• ISO Code: FIM

• Singular Name: markka

• Plural Name: markkaa

• Monetary Subdivision: 1 markka = 100 penniä

• Subdivision Name Singular: penni

• Subdivision Name Plural: penniä

• Initial Production Date: 1860 (officially introduced after Finland's independence from the Russian Empire)

• Final Production Date: 2001

• Initial Circulation Date: 1860

• Final Circulation Date: December 31, 2001 (transition period until 2002)

• Mint: Mint of Finland (Suomen Rahapaja)

• Issuing Bank: Bank of Finland (Suomen Pankki)

• Coin Denominations: 1, 5, 10, 20, 50 penniä; 1, 5, 10, 20 markkaa

• Banknote Denominations: 10, 20, 50, 100, 500, 1000 markkaa

• Designs / Symbols:

  • Coins and banknotes featured Finnish national symbols, including the heraldic lion and historical figures.

• Economic Historical Context:

  • The Finnish markka was a stable currency and a symbol of national sovereignty throughout the independence period.

  • It underwent several monetary reforms during the 20th century, including post-World War II stabilization.

  • Replaced by the euro in 2002 as part of European integration.

• Current Circulation Status: out of circulation since 2002, no official exchange possible.

• Issuing Authority: Bank of Finland.

This report provides a complete financial history of Finland, highlighting the transition from the Finnish markka to the euro in 2002, the characteristics of coins and banknotes, historical context, and current status of the official currency.