Bank of Finland urges residents to buy euros

Finland’s central bank Soumen Panki has reminded those still holding Finnish markka banknotes and coins that they have until 29 February to exchange them for euros.

The exchange can be done at banks, foreign exchange bureaus, or by posting notes and coins to the central bank.

“The sender is responsible for postage. The sender’s name, contact information and bank account number must also be included. The last day of dispatch is 29 February 2012 (date of postmark).”

“The euro amount will be credited to the sender’s bank account,” the bank said.

The bank has a so-called duty of redemption, which applies to all markka banknotes issued in or after 1945, and coins included in the last markka coin series before the changeover to the euro. This duty expires on 29 February.

There are an estimated FIM1.66bn of notes and coins still in circulation. This comprises about FIM740m in notes, FIM590m in coins and about FIM330m in commemorative coins – which may also be exchanged for euros.

The bank notes that “redeemable markka banknotes and coins may have sentimental or numismatic value that exceeds their nominal value.”

 

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