Central Banking

Finland announces markka conversion deadline


The Bank of Finland on Monday announced that the conversion period for Finns to exchange markka banknotes and coins for euro ones will end on February 29, 2012.

The date marks the end of the 10-year period in which the currency could be converted.

The central bank said the value of redeemable markka banknotes and coins still in circulation totals approximately FIM1.7 billion ($386 million), of which approximately FIM750 million worth is banknotes, FIM591 million is in coins and around FIM330

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