the EURO
 

the Euro is already the official currency in the following member-countries of the European Union (but Euro-coins and EURO banknotes will replace the local currencies only starting jan-1-2002):

Belgium, Germany, Finnland, France, Greece, Ireland, Italy, Luxemburg, Netherlands, Austria, Portugal, Spain

(not yet introducing the Euro currencies are: Denmark, Sweden and Great Britain).

in add, the Vatican, Monaco, Andorra, San Marino, Guadeloupe and Martinique will also have the EURO as their (only) official currency.

starting jan-1-2002 EURO Banknotes will look the same everywhere, coins will be the same on one-side, on the other side they will be 'issuer-country-specific' but accepted in all EURO participating countries.

After jan-1-2002 shops in the specific countries will still have to accept the 'old, local, currencies', but only until feb-28-2002.

Switzerland is not a member of the EU and will maintain have their own currency (the Swiss Franc), but in touristic places, the Euro will also be very welcome (but with daily currency-exchange-fluctuations).

[This message has been edited by Rudi (edited 10-29-2001).]

I have small amounts of soon-to-be-replaced currencies from several countries and no present plans to be in any of those countries prior to Feb 28, 2002. Any idea what the best thing to do is?

"I have small amounts of soon-to-be-replaced currencies from several countries and no present
plans to be in any of those countries prior to Feb 28, 2002. Any idea what the best thing to do
is?"

On a recent trip to France I asked the same question. All of the banks will exchange the paper currency for euros for a number of years.
I plan to keep a sampling to give to my grandkids.

Exchanging bank-notes after february-2002: Only the former 'State banks' will do so, in the long run' without heavy fees ...

Earlier this month I took with me to LHR all of the currency from the Euro countries I do NOT plan to visit prior to 28 Feb 02. I turned them in at a currency exchange for GBP. I kept the non-Euro country notes.

I was afraid that these exchanges may not be willing to do this after 1 Jan 02. When I go back to the first Euro country after that date, I will pick up a supply of the new notes.

Please also see:

http://www.flyertalk.com/forum/Forum...ML/002540.html

That thread has a link to this thread. Could the moderator merge the two threads (in whichever forum they deem appropriate).

Guadeloupe and Martinique aren't additional. They're part of France.

Actually, I think at least in France the old currency-French Francs-will only be accepted in general banks for a few months after the cut-off which I think is Feb 17.

After the few month period, the old currency will only be accepted at Bank of France, though they will take them for years ( I think it's 10 years, but check the specifics on all this).

We encountered this a few years ago when France changed the 200 FF note. We had to go to the Bank of France office at Opera, wait in line and exchange them there. Not convenient but not the end of the world either.

I think the bigger problem is if you have currency from a bunch of countries and no plans to revisit all those countries soon. I don't think banks in France will take other countries currencies after mid-Feb and maybe even the big mark-up money traders won't either.

I look forward to being over there while all this is going on.

[This message has been edited by Mountain Trader (edited 10-29-2001).]

The cut off date for the use of national currencies does vary by member state, as does the availability of a small kit with Euro coins to be offered to consumers in each state (mid-December or so).

Full details on the plans:

http://europa.eu.int/euro/html/home5.html?lang=5

[This message has been edited by SMessier (edited 10-30-2001).]

If you have odd bits of money that are worth the bother, most money changers such as American Express will exchange paper for you (for a fee). They also collect coins for charities. UN Childrens' Fund perhaps.

I collect coins and have a interesting collection from my travels going back more than 40 years. I keep one each of a coin from a visited country. The others I try to spend at the time or put in the envelope provided on my meal tray on the home bound flight.

I am assuming that some countries will have persons who will stay be interested in US dollar bills.

The "duty free" stores in FRA accepted lira and francs at a very favorable rate. We got rid of our soon to be outdated moneys by purchased a half pound of truffles using a mix of 4 currencies, The rates were the cross rates posted in the Hearld Trib, as close as I could calculate.