The national currency of Finland. Currency of Finland: history, description and exchange rate Finnish money before the euro

Riksdalers, rubles, Finnish marks – and euros. Finnish coins and banknotes reflect the country's history. Each eurozone country decides for itself what will be depicted on euro coins.

The official currency of Finland is the euro. It was introduced into non-cash circulation on January 1, 1999, and euro banknotes and coins were introduced into cash circulation on January 1, 2002.

All euro coins have a common obverse, on which the denomination of the coin is indicated against the background of a schematic map of Europe. On the reverse side is the “national” image of the country where the coin was minted.

Designer Pertti Mäkinen depicted two swans on the Finnish 1 euro coin. Raimo Heino drew berries and cloudberry leaves on the 2 euro coin. And on all cent coins Heikki Hyaväoya placed a heraldic lion - the coat of arms of Finland.

Thaler, ruble, mark, euro

In 1860, Finland received its own currency - the Finnish mark, which was used until the transition to the euro. Since at that time the country was still part of the Russian Empire, the inscription in Russian is visible on the banknote.
Pictured: 500 mark banknote from 1898.

It is quite difficult to determine when the first money appeared in Finland. The first coins found in Finland are Roman and date back to about 2,000 years ago. In the 10th century, the country began to produce its first coins; they were made by squeezing an image onto the surface of the metal. These were not official state money, but copies of Byzantine banknotes. The first official coins were minted in Turku in the 14th and 15th centuries.

For several centuries, Finland was under Swedish rule, so the Swedish monetary system was entrenched in the country. So, starting from 1604, the currency was the Swedish thaler - riksdaler, which was worth 32 Swedish era. Along with copper riksdalers, silver thalers and gold ducats were used mainly in foreign trade. The first paper money in Finland appeared in the 1660s.

From 1955 to 1986, Finland issued banknotes with portraits of outstanding Finnish athletes, government and cultural figures.
Photo: 500 mark banknote from 1975 with the image of the eighth President of Finland, Urho Kaleva Kekkonen.
Photo: Jaakko Koskentola/Bank of Finland

In 1809, Finland became part of the Russian Empire, and Russian kopecks and rubles were introduced into circulation. In 1860, the country received its own monetary unit - the Finnish mark, which was used until the transition to the euro. It is interesting that the name was invented by Elias Lönnrot, a linguist, collector and compiler of the national Karelian-Finnish epic “Kalevala”.

After Finland gained independence, symbols of imperial Russia were removed from banknotes. The very appearance of the banknotes remained unchanged: only the image of the double-headed eagle disappeared from the front side, and the inscription in Russian from the back side.

From 1955 to 1986, the country issued banknotes with portraits of outstanding Finnish athletes, government and cultural figures. Thus, in 1975, a 500 mark banknote appeared with the image of the eighth President of Finland, Urho Kaleva Kekkonen.

Collectible Euro coins

The official currency of Finland since 2002 is the euro. In the photo in the top row are the reverse sides of Finnish coins with denominations (from left to right) of 50 cents, 1 euro and 2 euros. In the bottom row (from left to right) are commemorative two-euro coins for the 100th anniversary of suffrage (2006), a coin with the image of the writer Tove Jansson (2014) and a commemorative hockey coin (2016). Photo: Bank of Finland, photo with hockey coin – Finnish Mint.

In addition to regular euro coins, all countries in the eurozone have the right to issue their own collectible coins. National commemorative coins are coins whose denomination differs from regular euro coins.

In addition, each country can issue special commemorative coins with a denomination of two euros twice a year. These commemorative coins have the same obverse as regular two euro coins and can be used as payment in any Euro country. But on the reverse side of Finnish coins, for example, the writer F. E. Sillanpää, the artist Helene Schärfbäck, the composer Jean Sibelius and the writer and artist Tove Jansson are depicted.

In addition, a commemorative coin was issued, for example, for the 100th anniversary of suffrage in Finland.

Text: Anna Liukko, January 2016

Before going to Finland, you should definitely find out what currency is used in this country, and also inquire about the rules of operation of ATMs and the specifics of conducting non-cash transactions. This will help you avoid awkward situations and pay for goods or services without any problems. In addition, you need to know where else in Europe the Finnish currency can be used.

History of Finnish money

Throughout the formation of the financial system of the Finnish state, several different currencies were used. Their choice was often determined by who would take over and control Finnish territories.

Thus, Swedish riksdalers (namely they, and not Swedish crowns, which were introduced into circulation only in 1873) were in use in Finland in the Middle Ages, when the country was part of Sweden. During the Russian-Swedish wars of the 18th century, Swedish riksdalers and Russian rubles were simultaneously in circulation on the territory of the state. And after Finland joined Russia in 1809, Russian rubles became the main currency.

In 1860, Emperor Alexander II introduced the Finnish mark as an independent currency of the Grand Duchy of Finland. The name of the new currency was invented by Elias Lönnrot, a collector of the Kalevala. It is interesting that the German mark appeared only 10 years after the introduction of the Finnish one.

In 1946, the design and system of protecting the currency in Finland changed, and in 1963 its redenomination was carried out. At the same time, 100 old Finnish marks were exchanged for one new one.

Since March 1, 2002, the euro has become the only legal tender in Finland. Banknotes are available in standard denominations: 5, 10, 20, 50, 100, 200, 500 €. Coins: 1, 2, 5, 10, 20 and 50 euro cents, 1 and 2 €.

Finland's transition to the euro

The Republic of Finland joined the European Union on January 1, 1995, and the decision to switch to a common European currency was made on January 1, 1999.

The abandonment of its own national currency brought a lot of positive things for the state:

• reducing risks associated with exchange rates of various currencies;
• simplification of settlements with European partners;
• increasing the field for investment;
• eliminating costs associated with conversion operations;
• reducing the difference in prices for the same goods within the country and abroad.

The process of exchanging Finnish marks for euros began on January 1, 2002. At that time, the national currency of Finland was changing at the rate of 1 EUR to 5.94573 FIM.

And although euro banknotes and coins were put into circulation on January 1, 2002, payments in Finnish marks in the country were possible for another two months. At the same time, everyone could exchange their remaining Finnish marks for euros for free until 2012.

What currency to take with you when going to Finland

There are no restrictions or prohibitions on the import of any foreign currency into Finland. However, it is prohibited to transport more than 10,000 € without a declaration.

The best solution would be to exchange Russian rubles, American dollars or other currencies for euros in advance. This will help:

• reduce the time spent searching for a profitable exchange office and the exchange itself;
• plan your expenses in euros in advance;
• avoid additional costs associated with cash withdrawals;
• prevent financial losses associated with unfavorable exchange rate changes.

In the border areas of south-eastern Finland there are retail outlets that accept Russian rubles. In the Finnish capital, this is done by the Stockmann shopping center, as well as the Prisma hypermarket in Lappeenranta. However, recalculation at the exchange rate is not very profitable - the difference is up to 10 rubles per 1 euro.

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Where is the best place to exchange currency in Finland?

If you did not manage to exchange your existing currency for euros in advance, you will have the opportunity to do this in Finland. If you need euros urgently, you should pay attention to border exchange offices:

1. Svetogorsk - a Sberbank branch can be found on the way to the customs checkpoint. There is also a branch of VTB Bank in the city.
2. Torfyanovka – there is a Vaalimaa exchange office.
3. Brusnichnoe – Nujamaa currency exchange office is located here.
4. Imatra – immediately after crossing the border you can change money at a special exchange kiosk. In addition, there are several bank branches that you can contact from Monday to Friday from 09.15 to 16.15.
5. Lappeenranta. You can change money at the Safar exchange office in the city center. Opening hours: weekdays – 09.30-17.00, Saturday – 09.30-14.00, Sunday – 12.00-14.00.
6. Kotka – exchange can be made at one of the many bank branches. One of them is conveniently located next to the Pasaati shopping center in the city center.

In Helsinki, the Forex exchange office operates on: weekdays - 08.00-20.00, Saturday - 09.00-19.00, Sunday - 09.30-17.00.

Peculiarities of ATM operation and non-cash payments in Finland

Cashless payment is something that is available to all tourists in Finland. Plastic cards are accepted by almost all establishments. They are no less popular than classic paper banknotes and coins.

Payment for services and goods using electronic money/payment systems is not widespread in Finland. The most acceptable option is the international payment system PayPal.

In addition, the Uniqul payment system began operating in test mode, using the user’s face rather than a card to identify the payer. The system stores information about participants’ bank cards and withdraws funds from them to pay for goods and services.

Most restaurants, cafes and shops allow contactless payments through Apple Pay and Android Pay.

Throughout Finland, plastic cards of international payment systems are accepted for payment: Visa, MasterCard, Diners Club and American Express. Experts recommend taking MasterCard with you for use during your trip. Its base currency is the euro. Thus, paying with a card of this particular payment system will help avoid overpayment for conversion.

When paying with a card, you should check how much the commission was charged. In particular, the conversion fee is often removed the next day after the transaction is completed. Moreover, as a result of changes in the exchange rate, it may not be the amount you expected. This happens due to a delay in clearing (non-cash settlement process) between banks.

Many Russians are interested in whether it is possible to pay with a Sberbank card in Finland. Yes, if it is a card belonging to one of the international payment systems.

And some more useful tips for those who decide to go abroad and pay there with a plastic bank card:

• notify your bank about your trip to avoid sudden card blocking;
• make sure that your card does not have restrictions on use in other countries;
• it is more profitable to open a foreign currency account and link a card to it than to use a credit card in foreign or local currency;
• distribute funds across several cards so that if you lose one, you will not be left abroad without funds;
• insure your savings in case of compromise of a means of payment, which could lead to loss of finances.

ATM withdrawals are another way to get cash in the currency you need while in the country. It is convenient to use the terminals, since the machines located on the streets operate daily and around the clock. Customer service is provided in Finnish, Swedish and English.

Withdrawing money from ATMs is always a paid operation. Using debit and credit cards, you will spend an additional 2-3% of the transaction amount.

Don't forget that your bank will also charge a fee for using a third-party ATM. The total amount of overpayment for cash withdrawals from Finnish ATMs is reported before the transaction is confirmed. If you are not satisfied with it, the transaction can be cancelled.

As for specific terminals, the most popular ATM network in Helsinki is Otto.

Use of travelers checks

The main advantage of traveler's checks is the protection of your funds in case of loss of the document itself. Large Russian banks handle this type of paperwork. Each check is precisely a document. The most common are traveler's checks from payment systems such as Visa, American Express, Thomas Cook, City Corp, Bank of America and MasterCard.

When crossing the border with Finland, you must indicate traveler's checks in the declaration. If the papers are lost, it is enough to contact the bank that services this type of payment documents, give the numbers of the lost traveler's checks, answer a few questions regarding their execution and receive cash in your hands.

Finally

Since 2002, the official currency of Finland is the euro. The previous local currency, the Finnish mark, went out of use on March 1, 2002.

There are many banks, exchange offices, and ATMs throughout the country. The most common non-cash payment is with bank plastic cards. Electronic and contactless payment systems are less common.

When planning a trip to Finland, you can make exchange transactions at the border, make an exchange in Imatra and other border Finnish cities, as well as directly in Helsinki.

It should be borne in mind that the least favorable rate is offered in hotels, terminals on central streets and expensive stores.

When withdrawing cash from ATMs, you should be prepared to pay a considerable commission from both a third-party and your own bank. Of all plastic cards, preference should be given to MasterCard, since its main monetary unit is the euro. In addition, when traveling abroad, you should notify your bank about your upcoming trip and find out whether your card will be valid in Finland.

All traveler's checks and cash over €10,000 must be declared.

6 MAIN ADVANTAGES of living in Finland: Video

Finland is a very fascinating and interesting country. Even those who prefer to bask in the hot sun should definitely go there. We invite you to find out what currency is in Finland now.

What should a tourist do?

To understand this, we suggest going through the list of things you can see, learn or do only in Finland:

1. Absolutely calmly, without harm to your health, admire the northern lights.
2. Finland is a country of thousands of lakes and forests that cover more than seventy percent of its territory.
3. You can completely freely wander around any corner where many mushrooms and berries grow.
4. Only here you can try absolutely unique dishes.
5. Only in Finland can you see and communicate with the real Santa Claus.
6. This is the best place to master your skiing skills.
7. Breathe the cleanest air in Europe.
8. Take a steam bath in a real Finnish sauna, of which there are a huge number in the country.
9. There is no fear of losing your wallet or mobile phone here. After all, Finland is the safest country where lost things are always found and returned.
10. There are a surprising number of coffee shops to visit.
11. Finland is also the birthplace of the Angry Birds and Moomin games.
12. This is the most amazing language.
13. Finland hosts a huge number of different festivals throughout the year.

It would take a long time to list what Finland is the best at. But even here nothing comes for free, and local currency is needed.

Finland: the country's currency

Today Finland is a member of the European Union, so the national currency is the euro (EUR, €). Strictly speaking, as in other European countries. The currency of Finland before the euro is the Finnish mark.

One euro is divided into 100 cents. Each member of the European Union issues its own coins with unique designs, but Finland's currency on banknotes looks the same as other countries. Each of the coins is legal tender in any of the eurozone countries.

A surprising fact about Finland: it doesn't use one- and two-cent coins. All amounts are rounded to the nearest five. Therefore, Finnish one- and two-cent currencies are highly valued by collectors.

The euro is quite easily converted from any other currency. Receipt or exchange of money is carried out at Otto ATMs, located almost anywhere in the country and working with international credit and debit cards Visa, Visa Electron, Mastercard, Maestro.

By the way, the currency of Finland on the Åland Islands is the Swedish krona, and you can pay with it here in addition to the euro.

Credit cards are widely accepted, but identification will be required for purchases of more than €50. Visa Electron and Visa Debit are accepted in all large and small stores.

Banks are open from half past nine in the morning until half past four in the evening, and exchange offices do not close until midnight.

Expenses

1. In Finland, it is not customary to tip waiters, as they are already included in the bill.
2. In a taxi, the amount may be rounded to a whole number.
3. Cloakroom attendants at clubs, as well as hotel workers, are usually given a tip of three euros.
4. The cheapest hotels cost about 50 euros per night.
5. To get to museums or visit famous attractions, you should pay between five and twenty-five euros for a ticket. Depends on the specific location.
6. Traveling between major cities by train or bus will cost at least twenty euros one way.
7. Private currency exchange offices offer very unfavorable rates. Therefore, it is better to use the services of banks or ATMs.

Purchases

The most common souvenirs from Finland are knives, carpets and all types of deer figurines, glassware and porcelain.

Small shops here are open from nine to eighteen local time. On Saturday, most are open part-time, and on Sunday they have a rest.

Large retail outlets will most often wait for you until nine o'clock in the evening on weekdays and until six on weekends. If you want to buy something after this time, gas stations remain at your disposal. By the way, it is absolutely not uncommon for Finland that the same product in completely different stores costs the same.

It is worth noting that when visiting Finland, amounts exceeding ten thousand euros must be declared if you enter or leave the European Union.

Finland is a wonderful country that has had its own currency for a long time. But after joining the European Union, the euro became the everyday currency in Finland. From the point of view of currency exchange, there are no restrictions on the export and import of foreign money in this state. In addition, in Finnish lands, any tourist can find many banks and ATMs that accept most modern cards.

History of Finnish money

The Finnish mark was the popular national currency of Finland until 2002. The stamp consisted of 100 units of pennies. During times of popular unrest and international wars, the mark in Finland was squeezed either by rubles or by Swedish riksdalers. But in 1860, Emperor Alexander issued a decree according to which only the mark was now in use on the lands of the Principality of Finland. At that time, the mark was equal to one quarter of the Russian ruble. In 1865, this banknote was equated to the silver standard. Later, in 1878, the brand was granted the gold standard. This state of affairs continued until the First World War. After the end of hostilities, all old stamps were exchanged for new banknotes. Before the introduction of the euro, people paid with 10 and 50 penny coins and used banknotes from 10 to 1000 marks.

Changing currencies: from mark to euro

In 1999, all countries that are part of the European Union exchanged their own money for the euro. Since monetary units cannot be changed in a short period, a complete transition to the euro was carried out only in 2002. Today, the euro is the only currency system used for payments in Finland.

Such popularity of the euro does not cancel the exchange of foreign currencies on the territory of the Finnish state. You can exchange dollars, rubles and currencies of other countries at local banks. On weekends, exchange is carried out at airports, on ferries, and in large hotels. On weekdays, exchange at a favorable rate can be made in public and private banks.

Sometimes Finnish employees may require the presentation of a passport to exchange currencies; this information should be taken into account by those who decide to visit Finnish lands for the first time.

Historians call Finland a country where the national currency appeared before the independence of the state. Old Finnish stamps could be exchanged in the Nordic country until 2012. In ordinary life, Finns are so accustomed to the new currency that they cannot imagine any other method of payment. Few people remember that the old Finnish stamps depicted writers, Olympic champions, architects, composers, statesmen, and even linguists.

Today, all euro coins with cent denominations feature images of swans, cloudberries and various landscapes. On the reverse side they depict the coat of arms of this wonderful country. The proud heraldic lion occupies a central place on them.

In addition to standard denomination coins, there are commemorative 2 euro coins in circulation in Finland. These coins are associated with important events taking place in the country. Finnish euros are considered a fairly stable currency, they are not subject to strong exchange rate fluctuations, and inspire confidence among local citizens and foreign investors.

The modern state currency of Finland is called the euro and is common to most countries in the Eurozone. However, until relatively recently, in the territory of this small republic located in northern Europe, the Finnish mark was used as a means of payment.

Description

Many Russians do not know what the currency is in Finland today, since it switched to the pan-European monetary unit not so long ago, in 2002. Externally, the Finnish euro is practically no different from the euro used in the territory of another state in the EU.

Much more interesting is the old monetary unit of the state, which was called the Finnish mark. It was divided into 100 pennies, and its letter code for designation on the international financial market looked like FIM.

History of the currency of Finland

In the Middle Ages, when the territory of the country belonged to Sweden, Swedish riksdalers were used here. Since the beginning of the 18th century, when the Russian Empire began to lay claim to this territory, the money of Sweden and Russia has been in circulation on equal terms.

This situation existed until 1809, when Finland finally became part of the Russian Empire. Since then, the Finns began to use only rubles. However, in 1860, by decision of the emperor, Finland's own national currency was created - the mark.

This monetary unit remained even after gaining sovereignty at the beginning of the 20th century. However, various reforms were adopted and the currency was modified.

Transition to the euro

The decision of the EU members to switch to a common currency was made on January 1, 1999. On January 1, 2002, the replacement of Finnish marks with euros began. In Finland, the exchange rate at which the exchange took place was 1 EUR to 5.94573 FIM.

For two months, stamps and euros were used in parallel throughout the country. From March 1, the euro became the only legal tender. Stamps could be exchanged in banks until 2012.

Rate

If we talk about the modern payment unit euro, then the exchange rate is known to almost everyone who follows the news. As of July 2018, the approximate value of the Finnish currency at the exchange rate to the ruble is 1:73. Accordingly, for one ruble you can get only 0.014 euros.

But few people know how much the Finnish mark was worth in relation to the ruble or other currencies of the world. As of December 28, 2001, the rate at which the Central Bank of the Russian Federation valued FIM was approximately 4.45:1. That is, for one stamp you could get almost 4 and a half rubles. Accordingly, for one ruble they gave about 0.22 marks.

Today, the Finnish mark is no longer used, so it is extremely difficult to predict how much it would cost in relation to the ruble.

Exchange operations

Finland is one of the most highly developed countries in the world with a powerful economy and a high standard of living. Many tourists come here from all over the world, so exchanging money is not difficult. A big plus for Russians is that many financial institutions exchange rubles for euros without any problems. This is due to the huge number of tourists from the Leningrad region and Karelia, who come to the country in the thousands for vacation and shopping.

However, it is much easier, more convenient and more profitable to exchange rubles for euros in Russia in advance. Conversion occurs at a more favorable rate than in Finland.

You can also exchange dollars without difficulty, but there may be problems with other currencies.

Cashless payments

Electronic currency in Finland is accepted almost everywhere: in restaurants, cafes, bars, hotels, supermarkets and boutiques, as well as in taxis, public transport, etc. Therefore, there will be no problems with paying for a purchase or service using a bank card.

If necessary, you can easily withdraw money from ATMs, which are located literally at every step. Although a commission for withdrawals from foreign cards is charged, it is, as a rule, not too large.

Payment through contactless apps like Apple Pay or Andriod Pay is also accepted almost everywhere. Moreover, this method is becoming more and more popular every year.

Conclusion

Finland is a modern European state that stands out in terms of its level of development, even compared to many other European countries. There is a rich culture and history here, but most of all tourists are attracted by the beautiful nature and excellent conditions for a shopping tour.

People also often come to Finland to earn money or get higher education. The level of wages in the country is higher than in many European countries, and averages 2-2.5 thousand euros per month. The Finnish educational system is considered one of the most progressive and effective in the world, so many people strive to get a diploma here.

Thanks to the large influx of foreigners into the country, interest in it is growing very quickly. The use of a common European currency in Finland makes visiting it much easier for foreigners who do not need to study the financial system or search for exchange offices.