FOREX Stages - Introduction of the Euro as a currency

In 1998 the Euro was introduced as an all-European currency. Here are the official locking rates of the 11 participating European currencies in the euro (EUR). The rates were proposed by the EU Commission and approved by EU finance ministers on December 31, 1998, ahead of the launch of the euro at midnight, January 1, 1999.

The real starting date was Monday, January 4, 1999. The conversion rates are:
1 EUR = 40.3399 BEF
1 EUR = 1.95583 DEM
1 EUR = 166.386 ESP
1 EUR = 6.55957 FRF
1 EUR = 0.787564 IEP
1 EUR = 1936.27 ITL
1 EUR = 40.3399 LUF
1 EUR = 2.20371 NLG
1 EUR = 13.7603 ATS
1 EUR = 200.482 PTE
1 EUR = 5.94573 FIM

The euro bills are issued in denominations of 5, 10, 20, 50, 100, 200 and 500 euros. Coins are issued in denominations of 1 and 2 euros, and 50, 20,10, 5, 2, and 1 cent.