Vero - Wikipedia - User contributions [en]

Guatemalan quetzal

2025-10-31T20:49:39Z

2601:C6:C481:350:C032:8F27:5BC6:5C52: /* Coins */

{{Short description|Currency of Guatemala}}
{{Infobox currency
| local_name = quetzal guatemalteco
| replaced_currency = [[Guatemalan peso]]
| local_name_lang = es
| image_1 = File:Billete Q1 Anverso.jpg
|image_width_1=
|image_title_1=Q1 banknote displaying [[José María Orellana]]
| image_2 =
| iso_code = GTQ
| date_of_introduction = 1925
| using_countries = {{flag|Guatemala}}
| inflation_rate = 6.2%
| inflation_source_date = [https://www.focus-economics.com/country-indicator/guatemala/inflation/#:~:text=Consumer%20price%20inflation%20in%20Guatemala,2022%20average%20figure%20was%206.9%25. Link]
| subunit_ratio_1 = {{frac|1|100}}
| subunit_name_1 = [[centavo]]
| symbol = Q
| plural = quetzales
| used_coins = 5, 10, 25, 50 centavos, 1 quetzal
| used_banknotes = 1, 5, 10, 20, 50, 100, 200 quetzales
| printer = {{ill|Polska Wytwórnia Papierów Wartościowych|pl|lt=Polish Security Printing Works}}
| printer_website = {{URL|www.pwpw.pl|{{lang|pl|Polska Wytwórnia Papierów Wartościowych|i=no}}}}
| issuing_authority = [[Bank of Guatemala]]
| issuing_authority_website = {{URL|www.banguat.gob.gt}}
}}
The '''quetzal''' ({{IPA|es|keˈtsal|local}}; [[ISO 4217|code]]: '''GTQ''') is the [[currency]] of [[Guatemala]], named after the [[List of national birds|national bird]] of Guatemala, the [[resplendent quetzal]]. In ancient [[Maya civilization|Mayan]] culture, the quetzal bird's tail feathers were used as currency. It is divided into 100 ''centavos,'' or ''len'' (plural ''lenes'') in Guatemalan [[slang]]. The plural is ''quetzales''.

==History==
The quetzal was introduced in 1925 during the term of President [[José María Orellana]], whose image appears on the obverse of the one-quetzal bill. It replaced the [[Guatemalan peso]] at the rate of 60 pesos = 1 quetzal.<ref>{{Cite web|url=http://www.banguat.gob.gt/inc/ver.asp?id=/en/currency+and+bills/Tran.Resena.htm|title = Banco de Guatemala}}</ref> Until 1987, the quetzal was pegged to and domestically equal to the [[United States dollar]]. The currency was named after the country's famous bird, the [[Quetzal]], which is also on the [[flag of Guatemala]].

==Coins==
[[File:GCA Muenzen.JPG|thumb|400px|Coins of the quetzal]]
In 1925, [[coin]]s in denominations of 1, 5, 10 centavos, {{1/4}}, {{1/2}} and 1 quetzal were introduced, although the majority of the 1 quetzal coins were withdrawn from circulation and melted. {{1/2}} and 2 centavo coins were added in 1932. Until 1965, coins of 5 centavos and above were minted in 72% silver. {{1/2}} and 1 quetzal coins were reintroduced in 1998 and 1999, respectively.

The coins currently in circulation are disc-shaped and include Guatemala's [[Emblem of Guatemala|national coat of arms]] on the obverse.<ref name=":0" /> The coins, and their reverse designs are:
*5 centavos: the [[Ceiba pentandra|tree of liberty]] and the motto "''LIBRE CREZCA FECUNDO'' (''Grow free and fecund)"<ref name=":0" />''
*10 centavos: a monolith from [[Quiriguá]]<ref name=":0" />
*25 centavos: an indigenous woman,<ref name=":0" /> [[Concepción Ramírez]]<ref>{{Cite web|url=http://www.entremundos.org/revista/uncategorized/the-woman-on-the-25-cent-coin-and-other-voices-from-guatemalas-genocide/?lang=en|title=The woman on the 25-cent coin and other voices from Guatemala's genocide|date=2017-08-23|website=EntreMundos|language=en-US|access-date=2020-01-05}}</ref>
*50 centavos: [[Lycaste skinneri|Monja Blanca]], the national flower<ref name=":0" />
*1 quetzal: a stylized [[Peace symbols|dove]], the word "''Paz (Peace)''", and the date “''[[Guatemalan Peace Process 1994-1996|29 de Diciembre de 1996]] (29 December 1996)''”<ref name=":0" />

==Banknotes==
The first banknotes were issued by the [[Central Bank of Guatemala]] in denominations of 1, 2, 5, 10, 20 and 100 quetzales, with {{1/2}} quetzal notes added in 1933. In 1946, the Bank of Guatemala took over the issuance of [[Banknote|paper money]], with the first issues being overprints on notes of the Central Bank. Except for the introduction of 50 quetzal notes in 1967, the denominations of banknotes remained unchanged until {{1/2}} and 1 quetzal coins replaced notes at the end of the 1990s.

In the top-right corner of the obverse face of each banknote, the value is displayed in [[Maya numerals|Mayan numerals]], representing Guatemala's cultural history.

{|class="wikitable" style="font-size: 90%"
|+Banknotes in circulation<ref name=":0">[http://www.banguat.gob.gt/inc/ver.asp?id=/en/currency%20and%20bills/Monedas%20y%20Billetes%20Translation.htm&e=18108 banguat.gob.gt] {{webarchive|url=https://web.archive.org/web/20070607011018/http://www.banguat.gob.gt/inc/ver.asp?id=%2Fen%2Fcurrency+and+bills%2FMonedas+y+Billetes+Translation.htm&e=18108 |date=2007-06-07 }}</ref><ref>{{Cite web |url=http://www.banguat.gob.gt/inc/ver.asp?id=/Publica/monedasybilletes/ilustraciones-denominaciones.htm&e=119361 |title=banguat.gob.gt |access-date=2015-02-14 |archive-date=2022-05-19 |archive-url=https://web.archive.org/web/20220519180848/http://www.banguat.gob.gt/inc/ver.asp?id=/Publica/monedasybilletes/ilustraciones-denominaciones.htm&e=119361 |url-status=dead }}</ref>
|-
!colspan=2| Image !!rowspan=2| Value !!rowspan=2| Main Color !!colspan=2| Description !!rowspan=2|Remark
|-
! Obverse !! Reverse !! Obverse !! Reverse
|-
|align="center" bgcolor="#ffffff" colspan=2|[[File:GuatemalanBanknoteQ100BothSides.jpg|200px]]
| Q1
| Green
| [[José María Orellana]], President of Guatemala during the Currency Reform that introduced the Quetzal as the official currency.
| Main building of the [[Banco de Guatemala|Central Bank of Guatemala]]
| Reintroduced as a [[polymer banknote]] on August 20, 2007. A Commemorative paper note was introduced in 2024 to celebrate 100 years of the quetzal.
|-
|align="center" bgcolor="#ffffff" colspan=2|[[File:GuatemalanBanknoteQ00500BothSides.jpg|200px]]
| Q5
| Violet
| [[Justo Rufino Barrios]], Co-Leader of the Liberal Revolution of 1871.
| Education allegory
|Changed to a [[polymer banknote]] on November 14, 2011<ref>{{Cite web |url=http://www.banguat.gob.gt/inc/ver.asp?id=/publica/5/5.htm |title=banguat.gob.gt |access-date=2011-11-15 |archive-date=2021-12-05 |archive-url=https://web.archive.org/web/20211205052200/http://www.banguat.gob.gt/inc/ver.asp?id=/publica/5/5.htm |url-status=dead }}</ref> Subsequently reintroduced on a cotton paper substrate.
|-
|align="center" bgcolor="#ffffff" colspan=2|[[File:GuatemalanBanknoteQ01000BothSides.jpg|200px]]
| Q10
| Red
| [[Miguel García Granados]], Deputy and Main Leader of the Liberal Revolution of 1871.
| Picture from the [[Guatemalan National Assembly]] of 1872
|
|-
|align="center" bgcolor="#ffffff" colspan=2|[[File:GuatemalanBanknoteQ02000BothSides.jpg|200px]]
| Q20
| Blue
| [[Mariano Gálvez]], State Leader of the State of Guatemala, within the United Provinces of Central America.
| Signing of the declaration of [[Act of Independence of Central America|Central American independence]]
|
|-
|align="center" bgcolor="#ffffff" colspan=2|[[File:GuatemalanBanknoteQ05000BothSides.jpg|200px]]
| Q50
| Orange
| {{ill|Carlos O. Zachrisson|es}}, finance minister from 1923 to 1926
| Allegory of the importance of coffee to the country
|
|-
|align="center" bgcolor="#ffffff" colspan=2|[[File:GuatemalanBanknoteQ10000BothSides.jpg|200px]]
| Q100
| Sepia
| [[Francisco Marroquín]], First Bishop of the Realm of Guatemala, and Founder of the [[Universidad de San Carlos de Guatemala]]
| First university building in [[Antigua Guatemala]]
|
|-
| align="center" bgcolor="#ffffff" colspan=2|[[File:GuatemalanBanknoteQ20000BothSides.jpg|200px]]
| Q200
| Aqua
| [[Sebastian Hurtado]], {{ill|Mariano Valverde|es}}, {{ill|German Alcántara|es}}. Three [[marimba]] composers.
| Allegory of the [[marimba]], the national instrument, Musical score of ''La Flor del Café'' by Alcántara.
|A new version of the Q200 note was introduced in 2022 and features a SPARK security patch.
|-
|colspan=7|{{Standard banknote table notice}}
|}

The Bank of Guatemala has introduced a [[polymer banknote]] of 1 quetzal on August 20, 2007, followed by a 5 quetzal polymer banknote on November 14, 2011. Both the 1 and 5 quetzal notes are once again on a paper substrate as of 2024.

==Out of circulation==
The fifty-cent quetzal bill is out of circulation, but it still has value.
{|class="wikitable" style="font-size: 90%"
|+Fifty-Cent Quetzal Banknote
|-
!colspan=2| Image !!rowspan=2| Value !!rowspan=2| Main Color !!colspan=2| Description !!rowspan=2|Remark
|-
! Obverse !! Reverse !! Obverse !! Reverse
|-
|align="center" bgcolor="#ffffff" colspan=2|[[File:GuatemalanBanknoteQ050BothSides.jpg|200px]]
| Q0.50
| Brown
| [[Tecún Umán]], Prince and Commander-and-Chief of the Quiche Realm during the Spanish Conquest.
| [[Tikal]]'s [[Tikal Temple I|Temple I]]
| No longer in circulation
|-
|colspan=7|{{Standard banknote table notice}}
|}

== Exchange rate ==
{{Exchange rate|GTQ|MXN}}

==See also==
* [[Economy of Guatemala]]

==References==
{{Reflist}}

==External links==
* [http://www.banguat.gob.gt Banco de Guatemala] {{in lang|es}}
* [http://www.banguat.gob.gt/inc/ver.asp?id=/en/currency%20and%20bills/Monedas%20y%20Billetes%20Translation.htm&e=18108 Images of Guatemalan coins] {{Webarchive|url=https://web.archive.org/web/20180814103602/http://www.banguat.gob.gt/inc/ver.asp?id=%2Fen%2Fcurrency%20and%20bills%2FMonedas%20y%20Billetes%20Translation.htm&e=18108 |date=2018-08-14 }} from the Banco de Guatemala page
* [http://www.banguat.gob.gt/inc/ver.asp?id=/publica/monedasybilletes/ilustraciones-denominaciones.htm Banco de Guatemala currency in circulation] {{Webarchive|url=https://web.archive.org/web/20151001130921/http://www.banguat.gob.gt/inc/ver.asp?id=/Publica/monedasybilletes/ilustraciones-denominaciones.htm |date=2015-10-01 }}
* [http://www.bis-ans-ende-der-welt.net/Guatemala-B-En.htm The banknotes of Guatemala] {{in lang|en|de|fr}}

{{Guatemala topics}}
{{Currencies of the Americas}}
{{Currency signs}}
{{Portal bar|Central America|Guatemala|Money|Numismatics}}

[[Category:Currencies of Guatemala]]
[[Category:Currencies introduced in 1925]]
[[Category:Currency symbols]]
[[Category:Circulating currencies]]

Bolivian boliviano

2025-10-31T20:21:52Z

2601:C6:C481:350:C032:8F27:5BC6:5C52: /* Coins */

{{Short description|Currency of Bolivia}}
{{redirect|Boliviano|the obsolete currency|Boliviano (1864–1963)}}
{{Use dmy dates|date=February 2020}}
{{Infobox currency
| currency_name_in_local =
| local_name = boliviano
| local_name_lang = es
| image_1 =
| image_title_1 =
| image_2 = Bolivianos moneda.png
| image_title_2 = 10 centavos to 5 bolivianos
| iso_code = BOB
| subunit_ratio_1 = {{frac|1|100}}
| subunit_name_1 = [[centavo]]
| symbol = Bs
| symbol_comment = <ref name="BCBgdmyb"/><ref name="BCB"/>
| symbol_subunit_1 = '''c.'''<ref name="BCBgdmyb"/>
| used_coins = c.10, 20, 50; Bs1, 2, 5<ref name="BCBgdmyb"/>
| used_banknotes = Bs10, 20, 50, 100, 200<ref name="BCBgdmyb"/>
| date_of_introduction = 1 January 1987
| replaced_currency = [[Bolivian peso]]
| using_countries = Bolivia
| issuing_authority = [[Central Bank of Bolivia|Banco Central de Bolivia]]
| issuing_authority_website = {{URL|www.bcb.gob.bo}}
| inflation_rate = 13.9%
| inflation_source_date = ''The World Factbook'', April 2025.
}}
The '''boliviano''' ({{IPA|es|boliˈβjano|}}; [[currency sign|sign]]: '''Bs'''<ref name="BCBgdmyb">Banco Central de Bolivia. "''[http://www.bcb.gob.bo/especiales/monedasbilletes/index.html Galeria de monedas y billetes] {{Webarchive|url=https://web.archive.org/web/20110305034955/http://www.bcb.gob.bo/especiales/monedasbilletes/index.html# |date=2011-03-05 }}''." Accessed 26 February 2011.</ref><ref name="BCB">Banco Central de Bolivia. [http://www.bcb.gob.bo Official website] Accessed 26 February 2011.</ref> [[ISO 4217]] code: '''BOB''') is the currency of [[Bolivia]]. It is divided into 100 [[Cent (currency)|cents]] or [[centavo]]s in Spanish. Boliviano was also the name of the currency of Bolivia [[Boliviano (1864-1963)|between 1864 and 1963]]. From April 2018, the manager of the [[Central Bank of Bolivia]], Pablo Ramos, announced the introduction of the new family of banknotes of the [[Bolivia|Plurinational State of Bolivia]], started with the 10 Bs note, and then gradually arrived to introduce the 200 Bs note, presented in April 2019.<ref>{{Cite web|url=http://www.la-razon.com/economia/billete-bcb-bolivia_0_3134086616.html|title=Introduction of Bolivia's new banknote family|date=|work=La Razon Bolivia|url-status=dead|access-date=24 December 2019|archive-url=https://web.archive.org/web/20191207155554/http://www.la-razon.com/economia/billete-bcb-bolivia_0_3134086616.html|archive-date=7 December 2019}}</ref> The new family of banknotes of the Plurinational State received several awards such as "the best banknotes in Latin America", was highlighted by its security measures, its aesthetics and its inclusion of prominent figures in Bolivian history, being among those who awarded the "Latin American High Security Printing Press Conference".<ref>{{Cite web|url=http://www.la-razon.com/economia/billetes-premio-bolivia_0_3164083603.html|title=Award to new family banknote of Bolivia|url-status=dead|access-date=24 December 2019|archive-url=https://web.archive.org/web/20191207155342/http://www.la-razon.com/economia/billetes-premio-bolivia_0_3164083603.html|archive-date=7 December 2019}}</ref>

==History==
Currencies in use before the current second boliviano include:
* The ''[[Spanish real]]'' from the 16th to 19th centuries, with 8 reales equal to 1 peso and 16 reales equal to 1 escudo.
* The ''[[Bolivian sol]]'' from 1827 to 1864, replacing the Spanish real at par. 16 soles were equal to 1 ''[[Bolivian Sol|Bolivian escudo]]'', and 8 soles were equal to 1 boliviano.
* The ''[[Boliviano (1864–1963)|first boliviano]]'' from 1864 to 1963, worth eight ''soles'' and divided into 100 ''centécimos'' (later ''centavos''). The name bolivar was used for an amount of ten bolivianos.
* The ''[[Bolivian peso|peso boliviano]]'' (code {{ISO 4217|BOP}}), from 1963 to 1986, worth 1,000 first bolivianos.

The second boliviano was introduced in 1987 at a rate of 1 boliviano = 1,000,000 ''pesos bolivianos''.

==Second boliviano==
Following many years of [[hyperinflation|rampant inflation]], the [[bolivian peso]] was replaced in 1987 by a new boliviano at a rate of one million to one (when 1 US dollar was worth 1.8/1.9 million pesos). At that time, 1 new boliviano was roughly equivalent to {{frac|1|2}} U.S. dollar.

===Coins===
In 1988, [[stainless steel|stainless-steel]] 2, 5, 10, 20 and 50 centavos and 1 boliviano (dated 1987) coins were introduced, followed by stainless-steel 2 bolivianos in 1991. Copper-plated steel 10 centavos were introduced in 1997 and [[bi-metallic coins|bi-metallic]] 5 bolivianos in 2001. The 2 and 5 centavo coins are no longer in circulation. The 2 boliviano coin has been minted in two sizes, both of which remain legal tender. The smaller 2 boliviano coin is almost the same as the 1 boliviano coin, leading to potential confusion, although the 2 boliviano coins are [[undecagon]]al whilst the 1 boliviano coins are round. All the coins in Bolivia have the value with the inscription "La union es la Fuerza" ("Union is strength" in Spanish) on the obverse. Older coins feature and the coat of arms of Bolivia with the inscription "Republica de Bolivia" (Republic of Bolivia) on the reverse, while newer ones feature the coat of arms with the inscription "Estado Plurinacional de Bolivia" (Plurinational state of Bolivia).
{| class="wikitable" style="font-size: 90%"
|+Coins of the Boliviano (older series)<ref>{{Cite web |title=Standard circulation coins – Numista |url=https://en.numista.com/catalogue/index.php?e=bolivie&r=&ct=coin&im1=&im2=&tb=y&cat=y&ru=&ca=3&no=&v=&i=&b=&d=&u=&a=1987-2009&dg=&m=&f=&t=&w=&mt=&g=&se=&c=&wi=&sw= |access-date=2023-02-05 |website=en.numista.com}}</ref>
|-
! rowspan="2" | Obverse !! rowspan="2" | Reverse !! rowspan="2" | Value !! colspan="4" | Technical parameters !! colspan="2" | Description !! rowspan="2" | Date of issue
|-
! Diameter !! Mass !! Composition !! Edge !! Obverse !! Reverse
|-
| colspan="2" |[[File:Moneda c2.jpg|frameless|200x200px]]
|2 centavos
|14 mm
|1 g
| rowspan="3" |[[Stainless steel]]
| rowspan="10" |Plain
|"LA UNIÓN ES LA FUERZA"; "2 CENTAVOS"; Date of issue
| rowspan="11" |"REPUBLICA DE BOLIVIA" (REPUBLIC OF BOLIVIA); [[Coat of arms of Bolivia]]
| rowspan="2" |1987
|-
| colspan="2" |[[File:Moneda c5.jpg|frameless|200x200px]]
|5 centavos
|17 mm
|1.5 g
|"LA UNIÓN ES LA FUERZA"; "5 CENTAVOS"; Date of issue
|-
|
|
| rowspan="3" |10 centavos
| rowspan="3" | 19 mm
| 2.2 g
| rowspan="3" | "LA UNIÓN ES LA FUERZA"; "10 CENTAVOS"; Date of issue
| 1987-1997
|-
| rowspan="2" |[[File:Bolivia1997tencentavosobv.jpg|100x100px]]
| rowspan="2" |[[File:Bolivia1997tencentavosrev.jpg|100x100px]]
|2.23 g
| rowspan="2" |[[Copper]] plated [[steel]]
|1997
|-
|1.85 g
|2001-2008
|-
| colspan="2" |[[File:20cbo.jpg|frameless|200x200px]]
|20 centavos
|22 mm
|3.66 g
| rowspan="5" |[[Stainless steel]]
|"LA UNIÓN ES LA FUERZA"; "20 CENTAVOS"; Date of issue
| rowspan="3" |1987-2008
|-
|[[File:50centavos.jpg|frameless|100x100px]]
|[[File:50centavosB.jpg|frameless|100x100px]]
| 50 centavos
| 24 mm
| 3.8 g
| "LA UNIÓN ES LA FUERZA"; "50 CENTAVOS"; Date of issue
|-
| colspan="2" |[[File:1cbos.jpg|frameless|197x197px]]
|1 boliviano
| 27 mm
| 5 g
| "LA UNIÓN ES LA FUERZA"; "1 BOLIVIANO"; Date of issue
|-
| colspan="2" |
| rowspan="2" | 2 bolivianos
| 27 mm
| 6.25 g
| rowspan="2" | "LA UNIÓN ES LA FUERZA"; "2 BOLIVIANOS"; Date of issue
| 1991
|-
|
|
|29 mm
|6.4 g
|1995-2008
|-
|[[File:5bolivanosobv.jpg|100px]]
|[[File:Boliviano (anverso).png|frameless|100x100px]]
| 5 bolivianos
| 23 mm
| 5 g
| [[Bi-metallic coins|Bi-metallic]]: [[bronze]] plated [[steel]] center with a [[stainless steel]] ring
| Reeded
| "LA UNIÓN ES LA FUERZA"; "5 BOLIVIANOS"; Date of issue
| 2001-2004
|-
|}

{|class="wikitable" style="font-size: 90%"
|+Coins of the Boliviano (current series)
|-
!rowspan="2"| Obverse !!rowspan="2"| Reverse !!rowspan="2"| Value !!colspan="4"| Technical parameters !!colspan="2"| Description !!rowspan="2"| Date of issue
|-
! Diameter !! Mass !! Composition !! Edge !! Obverse !! Reverse
|-
| colspan="2"|[[File:Moneda c10.jpg|200px]]
|10 centavos
| 19 mm
| 2.2 g
| [[Steel]]
| rowspan="5" | Plain
| "LA UNIÓN ES LA FUERZA"; "10 CENTAVOS"; Date of issue
| rowspan="6" | "ESTADO PLURINACIONAL DE BOLIVIA" (PLURINATIONAL STATE OF BOLIVIA); [[Coat of arms of Bolivia]]
| 2017
|-
| [[File:Bolivia2010twentycentavosobv.jpg|100px]]
| [[File:Bolivia2010twentycentavosrev.jpg|100px]]
| 20 centavos
| 22 mm
| 3.25 g
| [[Nickel]] plated [[steel]]
| "LA UNIÓN ES LA FUERZA"; "20 CENTAVOS"; Date of issue
| 2010-2016
|-
| colspan="2" | [[File:Moneda c50.jpg|frameless|200px]]
| 50 centavos
| 24 mm
| 3.75 g
| rowspan="3" | [[Stainless steel]]
| "LA UNIÓN ES LA FUERZA"; "50 CENTAVOS"; Date of issue
| 2010-2012
|-
| colspan="2"|[[File:Moneda Bs1.jpg|200px]]
|1 boliviano
| 27 mm
| 5 g
| "LA UNIÓN ES LA FUERZA"; "1 BOLIVIANO"; Date of issue
| rowspan="2" | 2010-2017
|-
| colspan="2"|[[File:Moneda Bs2.jpg|200px]]
| 2 bolivianos
| 29 mm
| 7 g
| "LA UNIÓN ES LA FUERZA"; "2 BOLIVIANOS"; Date of issue
|-
| colspan="2" | [[File:5 bs EPB.jpg|frameless|200x200px]]
| 5 bolivianos
| 23 mm
| 5 g
| [[Bi-metallic coins|Bi-metallic coin]] consisting of a Bronze-plated steel center plug with a [[Stainless steel]] outer ring
| Reeded
| "LA UNIÓN ES LA FUERZA"; "5 BOLIVIANOS"; Date of issue
| 2017
|-
|}

===Banknotes===
[[File:Nuevos Billetes Estado Plurinacional de Bolivia.jpg|alt=Banknote Bolivia|thumb|New family banknotes of [[Bolivia|Plurinational State of Bolivia]]]]
In 1987, last peso boliviano banknotes and cheques de gerência were overprinted with denominations in centavos and bolivianos to produce provisional issues of 1, 5, 10 and 50 centavos, and 1, 5 and 10 bolivianos. Regular issues followed the same year in denominations of 2, 5, 10, 20, 50, 100 and 200 bolivianos. The 2 boliviano note was replaced by a coin in 1991, with the same happening to the 5 boliviano in 2001, although the Bolivian central bank still listed the 5 boliviano note as "in circulation" until 2013, when the 2 and 5 Bolivianos bills were officially out of circulation.<ref>{{cite web |title=Banco Central de Bolivia :: Galerķa de Billetes y Monedas |url=https://www.bcb.gov.bo/sitio/monedas/monedas.html |url-status=dead |archive-url=https://web.archive.org/web/20061005065519/https://www.bcb.gov.bo/sitio/monedas/monedas.html |archive-date=5 October 2006 |access-date=12 January 2022 |website=www.bcb.gov.bo}}</ref>

The Bolivianos bills depict prominent historical figures:

*The 10 Bolivianos bill has in the obverse to the painter [[Cecilio Guzmán de Rojas|Cecilio Guzman]] and reverse an image of city of [[Cochabamba]].
*The 20 Boliviano bill has in the obverse to the lawyer Pantaleon Dalence and in the reverse, an image of The Golden Colonial House of [[Tarija]]. The 50 Boliviano bill has in the obverse to the painter Melchor Perez and when reversed the Tower of Church of the Society of Jesus in the city of [[Potosí|Potosi]] can be seen.
*The 100 Boliviano bill has in the obverse of the great historian Gabriel Rene Moreno and the reverse one image of the Mayor Real and Papal University of Saint Francisco Xavier of Chuquisaca in the capital, the city of [[Sucre]].
*The 200 Boliviano bill has to the obverse to the writer and former president of Bolivia, [[Franz Tamayo]] and in the reverse an image of ruins of the Pre-Inca empire of Tihuanaco in the shores of Lake Titicaca in the state or department of [[La Paz Department (Bolivia)|La Paz]].

In 2018, the [[Central Bank of Bolivia]] (Banco Central de Bolivia) unveiled a new family of banknotes, and will be issued by order of denomination. The notes are the first to bear the formal name of Bolivia "Estado Plurinacional de Bolivia" (''[[Bolivia|Plurinational State of Bolivia]]''), to reflect the multiculturalism of the country and all of its citizens.

{|class="wikitable" style="font-size: 90%"
|+Banknotes of the Boliviano (1987-2016 series)
|-
! Image !! Value !! Main Color !! Obverse !! Reverse !! Watermark
|-
| [http://banknote.ws/COLLECTION/countries/AME/BOL/BOL0202.htm]
| 2 bolivianos
| Gray
| [[Antonio Vaca Diez]]
| Pando refuge
| rowspan="7" | Simón Bolívar
|-
| [http://banknote.ws/COLLECTION/countries/AME/BOL/BOL0203.htm]
| 5 bolivianos
| Green
| [[Adela Zamudio]]
| Virgen del Socavon church
|-
| [http://banknote.ws/COLLECTION/countries/AME/BOL/BOL0204.htm]
| 10 bolivianos
| Blue
| [[Cecilio Guzman de Rojas]]
| "Heroinas de la Coronilla" monument in [[Cochabamba]]
|-
| [http://banknote.ws/COLLECTION/countries/AME/BOL/BOL0205.htm]
| 20 bolivianos
| Orange
| [[Pantaleon Dalence]]
| Casa Dorada in [[Tarija]]
|-
| [http://banknote.ws/COLLECTION/countries/AME/BOL/BOL0206.htm]
| 50 bolivianos
| Purple
| [[Melchor Pérez de Holguin]]
| Torre de la Compañia
|-
| [http://banknote.ws/COLLECTION/countries/AME/BOL/BOL0207.htm]
| 100 bolivianos
| Red
| [[Gabriel René Moreno]]
| San Francisco Xavier de Chuquisaca University in [[Sucre]]
|-
| [http://banknote.ws/COLLECTION/countries/AME/BOL/BOL0208.htm]
| 200 bolivianos
| Brown
| [[Franz Tamayo]]
| Tiahuanaco
|-
|}

{|class="wikitable" style="font-size: 90%"
|+Banknotes of the Boliviano (2018 – 2019 series)
|-
! Image !! Value !! Main Color !! Obverse !! Reverse !! Watermark
|-
| [http://banknote.ws/COLLECTION/countries/AME/BOL/BOL0248.htm]
| 10 bolivianos
| Blue
| José Santos Vargas "El Tambor Vargas", [[Apiaguaiki Tumpa]], Eustaquio Méndez "El Moto Méndez". Umajalanta Cavern ([[Torotoro National Park]])
| Landscape of [[Isla del Pescado]] in [[Salar de Uyuni]] salt flat. [[Giant hummingbird]] and [[Puya raimondii]]
| José Santos Vargas, drum and electrotype 10
|-
| [http://banknote.ws/COLLECTION/countries/AME/BOL/BOL0249.htm]
| 20 bolivianos
| Orange
| [[Genoveva Ríos]], [[Tomás Katari]] and Pedro Ignacio Muiba. [[El Fuerte de Samaipata]]
| [[Black caiman]] and Toborochi ([[Ceiba speciosa]])
| [[Genoveva Ríos]] and electrotype 20
|-
| [http://banknote.ws/COLLECTION/countries/AME/BOL/BOLW2018-050.htm]
| 50 bolivianos
| Purple
| José Manuel Baca "Cañoto", Bruno Racua, Pablo Zárate also known as [[Willka]]. Incallajta Fortress
| [[Nevado Sajama]], [[Andean flamingo]] and [[Quinoa]]
| José Manuel Baca "Cañoto", guitar and electrotype 50
|-
| [http://banknote.ws/COLLECTION/countries/AME/BOL/BOLW2018-100.htm]
| 100 bolivianos
| Red
| [[Juana Azurduy de Padilla]], [[Alejo Calatayud]], [[Antonio José de Sucre]]. [[National Mint of Bolivia]]
| Arco Iris Waterfall, [[Heliconia rostrata]], [[Hyacinth Macaw]]
|
|-
| [http://banknote.ws/COLLECTION/countries/AME/BOL/BOLW2019-200.htm]
| 200 bolivianos
| Brown
| [[Túpac Katari]], [[Bartolina Sisa]], [[Simón Bolivar]]. House of Freedom
| [[Tiwanaku]] (specifically [[Kalasasaya]] and the [[Ponce Monolith]]), [[Cantua buxifolia]], [[Andean Mountain Cat]]
|
|-
|}

==Exchange rates==
In a [[fixed exchange rate]] regime system, the [[Central Bank of Bolivia]] undertakes to buy and sell foreign currency at the price it previously set of Bs 6.86 for the purchase and Bs 6.96 for the sale for 1 $US, respectively, from November 2011 to the present, which is more than eleven continuous years. The consequences of this system are crucial, although in practice they are not understood in their real dimension of its effects in the short and long term on the country's economy. Since 2023 in Bolivia there has been a shortage of [[United States dollars]],<ref name=SanDiegoUnion>{{cite news |access-date=18 February 2024 |date=15 February 2024 |title=Crece preocupación por escasez de dólares en Bolivia que afecta al sector productivo, según gremios |url=https://www.sandiegouniontribune.com/en-espanol/noticias/story/2024-02-15/crece-preocupacion-por-escasez-de-dolares-en-bolivia-que-afecta-al-sector-productivo-segun-gremios |work=SanDiegoUnionTribune}}</ref> so the "parallel" dollar began to settle in streets and some exchange houses, reaching an exchange rate of Bs 15 for sale for 1 $US<ref name=EjuTv>{{cite news |access-date=18 February 2024 |date=17 February 2024 |title=Ante la escasez, el dólar 'paralelo' se asienta en las calles y las casas de cambio |url=https://eju.tv/2024/02/ante-la-escasez-el-dolar-paralelo-se-asienta-en-las-calles-y-las-casas-de-cambio/ |work=EjuTv}}</ref> although the Central Bank of Bolivia enabled the option of carry out the sale of dollars in their offices at the official price.<ref name=Erbol>{{cite news |access-date=18 February 2024 |date=6 March 2023 |title=Banco Central habilita la venta de dólares para el público en general al tipo de cambio oficial |url=https://erbol.com.bo/econom%C3%ADa/banco-central-habilita-la-venta-de-d%C3%B3lares-para-el-p%C3%BAblico-en-general-al-tipo-de-cambio |work=Erbol}}</ref>

{{Exchange Rate|BOB|RUB|BRL|ARS}}

==Manufacture and production==
As of 2013 boliviano coins and banknotes are still being produced abroad, in countries such as the United Kingdom, France, and Chile, even though Bolivia has been politically independent since 1825.{{citation needed|date=October 2019}}

Though Bolivia was one of the main mints of the colonial era ([[National Mint of Bolivia|casa de la moneda, Potosí]]) the coining and printing of currency stopped due to lack of political interest and on the idea that foreign made coins and banknotes could be acquired at a lower price than the Bolivian-made coins and banknotes.

==US dollar-related currency (MVDOL) ==
'''MVDOL''' ([[ISO 4217]] code {{ISO 4217|BOV}}) is a unit of currency (account). It has a value, inflation-adjusted between the Bolivian boliviano and the [[US dollar]]. It is used in financial instruments due to its stable value.

The name [[:wikt:MVDOL]] is derived from {{lang|es|moneda nacional con mantenimiento de valor al dólar estadounidense}} ([Bolivian] national currency with value maintained to the US dollar).

==See also==
* [[Economy of Bolivia]]
* [[Central Bank of Bolivia]]

==References==
{{refbegin}}
*{{numis cite SCWC|date=1991}}
*{{numis cite SCWPM|date=1994}}
*{{numis cite SCWPM|date=1990.s}}
{{refend}}
{{Reflist}}

==External links==

* [http://ciscoins.net/america/enbolivia.htm Coins of Bolivia, online catalog with images] {{Webarchive|url=https://web.archive.org/web/20141217031252/http://ciscoins.net/america/enbolivia.htm |date=17 December 2014 }}
* [http://www.bis-ans-ende-der-welt.net/Bolivien-B-En.htm A gallery of the banknotes of Bolivia]
*[https://en.numista.com/catalogue/bolivie-banknotes-1.html Bolivian boliviano banknotes] at Numista

{{Currencies of the Americas|state=collapsed}}
{{Portal bar|Bolivia|Money|Numismatics|South America}}

[[Category:Currencies of Bolivia]]
[[Category:1864 introductions]]
[[Category:1987 establishments in Bolivia]]
[[Category:Currencies introduced in 1987]]
[[Category:Circulating currencies]]

Tongan paʻanga

2025-10-31T20:18:21Z

2601:C6:C481:350:C032:8F27:5BC6:5C52: /* Coins */

{{Short description|Currency of Tonga}}
{{Infobox currency
| local_name1 = Tonga paʻanga
| local_name_lang1 = to
| image_1 = 1-Paʻanga-Schein Vorderseite.jpg
| image_title_1 = 1 paʻanga
| iso_code = TOP
| date_of_introduction = 3 April 1967
| using_countries = {{flag|Tonga}}
| inflation_rate = 4.5%
| inflation_source_date = ''[https://web.archive.org/web/20070613003823/https://www.cia.gov/library/publications/the-world-factbook/fields/2092.html The World Factbook]'', 2012 est.
| replaced_currency = [[Tongan pound]]
| superunit_ratio_1 = 100
| superunit_name_1 = hau
| subunit_ratio_1 = {{frac|1|100}}
| subunit_name_1 = [[Cent (currency)|seniti]]
| symbol = T$
| symbol_comment = (sometimes PT)
| symbol_subunit_1 = ¢
| frequently_used_coins = 5¢, 10¢, 20¢, 50¢, T$1
| rarely_used_coins = 1¢, 2¢, T$2
| used_banknotes = T$1, T$2, T$5, T$10, T$20, T$50, T$100
| issuing_authority = [[Board of Commissioners of Currency of Tonga|Board of Commissioners of Currency]] (1967-1989) [[National Reserve Bank of Tonga]] (1989-)
| issuing_authority_website = {{URL|http://www.reservebank.to/}}
}}

The '''paʻanga''' is the currency of [[Tonga]]. It is controlled by the [[National Reserve Bank of Tonga]] (''Pangikē Pule Fakafonua ʻo Tonga'') in [[Nukuʻalofa]]. The paʻanga is not convertible and is [[Fixed exchange rate system|pegged]] to a basket of currencies comprising the [[Australian dollar|Australian]], [[New Zealand dollar|New Zealand]], and [[United States dollar]]s and the [[Japanese yen]].

The paʻanga is subdivided into 100 ''seniti''. The [[ISO 4217|ISO code]] is TOP, and the usual abbreviation is T$ (¢ for seniti). In Tonga, the paʻanga is often referred to in English as the dollar, the seniti as the cent and the hau as the union. The unit of hau (1 hau = 100 paʻanga), is not used in everyday life and can be found only on commemorative coins of higher denominations.

==Etymology==
[[File:(MHNT) Entada phaseoloides deux graines.jpg|thumb|left|''paʻanga'' bean]]
''Paʻanga'' is the Tongan name for ''[[Entada phaseoloides]]'', also called the box bean or St. Thomas's bean, a bean-like vine producing large pods with large reddish-brown seeds. The seeds are roundish, up to 5 cm diameter and 1 or 2 cm thick. When strung together they are used as anklets, part of the [[kailao]] dance costume. They were also used as playing pieces in an ancient disc-throwing game, [[lafo]].<ref>{{Cite book|last=K|first=Lim T.|url=https://books.google.com/books?id=4MDEqFGeKVoC&dq=tonga+bean+entada&pg=PA632|title=Edible Medicinal And Non-Medicinal Plants: Volume 2, Fruits|date=2012|publisher=Springer Science & Business Media|isbn=978-94-007-1764-0|pages=627–633|language=en}}</ref>

On 1 December 1806 Tongans attacked the passing ship ''[[Port au Prince (1790 ship)|Port-au-Prince]]'' near [[Lifuka]] in order to take it over. They failed, as the crew sank the vessel. The chief of [[Haʻapai]], [[Fīnau ʻUlukālala]], resorted to the next plan, to plunder whatever was worthwhile. On his inspection tour, he found the ship's cash. Not knowing what money was, he considered the coins as paʻanga. Finally, not seeing anything of value, he ordered the remains of the ship to be burned; most of the crew were also reported to be massacred.<ref>Findlay, Alexander George (1851) ''A directory for the navigation of the Pacific ocean''. p. 807.</ref> It was much later that [[William Mariner (writer)|William Mariner]], the only survivor of this attack, told him that those pieces of metal were of great value and not merely playing stones.<ref>{{Cite book|last=Somerville|first=Henry Boyle Townshend|url=https://books.google.com/books?id=0d0hAAAAMAAJ&q=tonga+pa'anga+%22bean%22|title=Will Mariner: A True Record of Adventure|date=1937|publisher=Houghton Mifflin|pages=240–241|language=en}}</ref><ref name="Spread">{{Cite book|last=Spread|first=Patrick|url=https://books.google.com/books?id=G3fHTIP4S7IC&dq=tonga&pg=PA201|title=Support-bargaining, Economics, and Society: A Social Species|date=2013|publisher=Routledge|isbn=978-0-415-64112-8|pages=200–201|language=en}}</ref> Mariner also passed down the following statement of Fīnau ʻUlukālala as he began to understand the value of these pieces to the European sailors:<ref name="Spread"/>
:''If money were made of iron and could be converted into knives, axes and chisels there would be some sense in placing a value on it; but as it is, I see none. If a man has more yams than he wants, let him exchange some of them away for pork. [...] Certainly money is much handier and more convenient but then, as it will not spoil by being kept, people will store it up instead of sharing it out as a chief ought to do, and thus become selfish. [...] I understand now very well what it is that makes the [[Palagi|papālangi]] [white men] so selfish – it is this money!''

When Tonga introduced [[decimal currency]], it decided not to call the main unit the [[dollar]] because the native word, ''tola'', translated into a [[pig]]'s snout, the soft end of a [[coconut]], or, in vulgar language, a [[mouth]].{{citation needed|date=August 2019}} ''Paʻanga'', on the other hand, translated into money.

== History ==
The paʻanga was introduced on 3 April 1967. It replaced the [[Tongan pound|pound]] at a rate of 1 pound = 2 paʻanga. Until 11 February 1991, the paʻanga was pegged to the Australian dollar at par. Since that time, a basket of currencies is taken, and the paʻanga has continuously depreciated relative to the Australian dollar.{{citation needed|date=September 2021}} Official exchange rates are released daily by the [[National Reserve Bank of Tonga]].{{citation needed|date=September 2021}}



== Coins ==
[[File:Tonga 2 Pa'anga 1980 back.jpg|thumb|right|2 paʻanga coin depicting [[Tāufaʻāhau Tupou IV]] in military uniform.]]

In 1967, circulating coins were introduced in denominations of 1, 2, 5, 10, 20 and 50 seniti and 1 and 2 paʻanga. The 1 and 2 seniti were struck in bronze with the other denominations in cupro-nickel. The 50 seniti, 1, and 2 paʻanga were only struck in small numbers as these denominations were also issued in note form. In 1974, dodecagonal (twelve-sided) 50 seniti were introduced but 50 seniti banknotes continued to be issued until 1983. In 1974, 1 seniti coins were struck in brass rather than bronze but reverted to bronze in 1975.

In 1975, a new series of coins was issued, themed around FAO and food production and featuring a new portrait style effigy of the king. This was followed by another series of similar theme in 1981. 1 and 2 Paʻanga coins continued to be issued. Starting in 1978 the 1 Paʻanga coins were redesigned with an innovative, or at least unique rectangular shape while the 2 Paʻanga (depicted on the right) remained round and continued to be one of the world's largest circulating coins at the time (diameter 44.5 [[millimetre]]s/1.75 [[inch]]es), larger even than standard "English crown sized" coins. The reverses of both were changed annually to commemorate a different FAO goal or event. Later seven sided Christmas themed paʻanga coins also exist. However, due to the 2 Paʻanga coin's large size and weight and the awkward shape of the 1 paʻanga, they failed to compete against the 1 and 2 Paʻanga notes that were simultaneously issued so production of these denominations ended in the 1980s due to low commercial demand. All 1 and 2 paʻanga coins still remain legal tender but are rarely used.

in 2002, nickel-plated steel replaced cupro-nickel in the 10, 20, and 50 seniti and the 5 seniti in 2005. The change did not occur in the 5 seniti initially as there was still a reasonable quantity of coins in stock at the time of the change. The move was made to reduce costs in production of the coins. The weight of the coins was also slightly reduced, although they remained the same approximate size as earlier dated coins. In 2011, commercial demand for 20 and 50 seniti prompted these denominations to be issued featuring the effigy of Tupou IV posthumous, who had died in 2006. A new obverse design for [[George Tupou V]] had not yet been made or selected at this time, possibly due to increased health concerns regarding the latter monarch, who died in March 2012.

For a brief period, some of the higher denomination coinage from the 1967–1968 series was "countermarked" with commemoration stamps that were added to the coin after being struck. The most distinct of these is Oil Search series which was plated in gold or "gilt". Some countermarked pieces were released into circulation but many were also sold to collectors.

Current circulating coins are in denominations of 1, 2, 5, 10, 20 and 50 seniti. The one and two seniti coins are still valid but are becoming less common in circulation due to high production cost and low value and may only be readily available for months after a release by the banks. Total prices in shops are usually [[Cash rounding|rounded]] to the nearest 5 or 10 seniti.

The first series of coins showed Queen [[Sālote Tupou III]], two years after her death. The reverse designs were [[Tu'i Malila]] (a [[radiated tortoise]] presented to the Tongan royal family by [[James Cook]] in 1777) on the 1 and 2 seniti, wheat sheaves and a stylized depiction of the constellation [[Crux (constellation)|Crux]] on the 5 and 10 seniti, and the Royal Tongan coat of arms on the higher denominations. From 1968, the portrait of King [[Tāufaʻāhau Tupou IV]] appeared, facing right, with the first year issue commemorating the coronation event. Since 1975, all coins have borne the word "Tonga" on the obverse and the inscription "{{lang|to|Fakalahi meʻakai}}" ("Grow more food") and the denomination on the reverse. All 1975–2011 coins are [[FAO]] themed. The King is shown in military uniform in portrait format rather than profile.

In 2011, Tonga announced plans to reform its coinage and introduce a new and more modern series of coins shortly after neighboring Samoa and Fiji had done so, and on 3 March 2015 the [[Royal Australian Mint]] announced the production of new coins that would begin circulating later that year, featuring the portrait of King [[Tupou VI]]. Dignitaries, including [[Princess Lātūfuipeka Tukuʻaho]], took turns striking the coins at a ceremony. "I'm very proud and honoured to be able to strike the coins today," she said. "This is also in celebration of His Majesty's coronation that is coming up in July."<ref>{{cite news|url=http://www.abc.net.au/news/2015-03-04/royal-australian-mint-helps-three-south-pacific-nations-money/6281096|title=Royal Australian Mint helps three South Pacific nations produce new coins|newspaper=ABC News|date=4 March 2015|access-date=15 February 2017}}</ref><ref>{{cite web |url=http://www.ramint.gov.au/media/press-releases/2015/20150304.cfm |title=Australia mints world history with new circulating coin for Cook Islands, Tonga & Vanuatu [04/03/2015] |access-date=2015-03-13 |url-status=dead |archive-url=https://web.archive.org/web/20150311125244/http://www.ramint.gov.au/media/press-releases/2015/20150304.cfm |archive-date=2015-03-11 }}</ref>

Specifications and designs are:

{| class="wikitable"
! rowspan="2"|Value
! rowspan="2"|Diameter
! rowspan="2"|Composition
! colspan="2"|1975–1979
! colspan="2"|1981
|-
!Obverse !!Reverse !! Obverse !! Reverse
|-
| 1 seniti
| 18 mm
|rowspan="2"| [[Bronze]]
| Maize || Pig
| Maize || Vanilla
|-
| 2 seniti
| 21 mm
| [[Squash (plant)|Marrows]] || PLANNED FAMILIES FOOD FOR ALL, six people holding hands
| Taro || PLANNED FAMILIES FOOD FOR ALL, six people holding hands
|-
| 5 seniti
| 19 mm
|rowspan="4"| [[Cupronickel]]
| Chicken with chicks || Bananas
| Chicken with chicks || Coconuts
|-
| 10 seniti
| 24 mm
| rowspan="3" | King [[Tāufaʻāhau Tupou IV]] || Grazing cattle
| rowspan="3" | King Tāufaʻāhau Tupou IV || Bananas on tree
|-
| 20 seniti
| 29 mm|| Bees and hive|| Yams
|-
| 50 seniti
| 32–33 mm|| Fishes around a vortex|| Tomatoes
|}

{| class="wikitable"
! rowspan="2"|Value
! rowspan="2"|Diameter
! rowspan="2"|Composition
! colspan="2"|2015<ref>{{cite web|url=http://www.reservebank.to/index.php/92-news/press-release/210-king-tupou-vi-unveiled-tonga-s-new-family-of-coronation-currency?highlight=WyJjb2lucyJd|title=King Tupou VI unveiled Tonga's New Family of Currency - National Reserve Bank of Tonga|last=Webmaster|access-date=15 February 2017}}</ref>
|-
!Obverse !!Reverse
|-
| 5 seniti
| 17 mm
|rowspan="4"| Nickel-plated steel
| rowspan="4" | [[King Tupou VI]] || Heilala
|-
| 10 seniti
| 19 mm|| Malau
|-
| 20 seniti
| 21 mm|| Kalia
|-
| 50 seniti
| rowspan="2" | 24 mm|| Milolua
|-
| 1 paʻanga
| Aluminium bronze
| King [[George Tupou V]] || Coat of arms of Tonga
|}
The King is shown facing on the 10, 20, and 50 seniti, under the initials [[Food and Agriculture Organization|FAO]].

==Banknotes==
In 1967, notes (bearing the portrait of Queen [[Sālote Tupou III]]) were introduced by the government in denominations of {{frac|1|2}}, 1, 2, 5 and 10 paʻanga. From 1974, the portrait of King [[Tāufaʻāhau Tupou IV]] appeared on the notes. {{frac|1|2}} paʻanga notes were issued until 1983, with 20 paʻanga notes introduced in 1985, followed by 50 paʻanga in 1988. In 1992, the [[National Reserve Bank of Tonga]] took over production of paper money. On 30 July 2008, a new banknote series with greater security features was introduced featuring [[George Tupou V]] and a redesigned look. During this issue, a 100 paʻanga banknote was introduced for the first time.<ref>[http://banknotenews.com/files/tag-tonga.php Tonga] BanknoteNews.com. Retrieved 2008-10-27.</ref>

The obverse of Tongan notes features text in the [[Tongan language]] and shows the portrait of the monarch. The reverse is in [[English language]] and shows typical motives and landmarks of Tonga: the [[Haʻamonga ʻa Maui]] Trilithon, a humpback whale, burial mounds, school students and rugby players, the royal palace, the Tongan Development Bank, the Port of [[Vavaʻu]] (twice, once depicted as it was around 1900, and the other in contemporary depiction), and [[tapa cloth|ngatu]] making.

On 29 June 2015, the National Reserve Bank of Tonga introduced a new family of paʻanga banknotes in six denominations, from 2 to 100 paʻanga. Banknotes of 50 and 100 paʻanga are made of a [[Hybrid paper-polymer banknote|paper/polymer hybrid substrate]]. They feature a portrait of the current king of Tonga, [[Tupou VI]].<ref>[http://banknotenews.com/files/1127ccea5c7b9013a9cd5a051551f2ff-3519.php Tonga new note family introduced 29.06.2015] BanknoteNews.com. June 30, 2015. Retrieved on 2015-06-30.</ref><ref>[http://banknotenews.com/files/22bd5fe0d814321f83d9b043cc03d798-3537.php Tonga new note family confirmed] BanknoteNews.com. July 15, 2015. Retrieved on 2015-07-15.</ref>

On 4 December 2023, the National Reserve Bank of Tonga introduced a new family of six banknotes to commemorate the birthday of [[George Tupou I]].
{{Exchange Rate|TOP|NZD|JPY|USD}}

==See also==
* [[Economy of Tonga]]

==References==
{{reflist|2}}
{{refbegin}}
*{{numis cite SCWC | date=1991}}
*{{numis cite SCWPM | date=1994}}
{{refend}}

{{Currencies of Oceania}}
{{Portal bar|Money|Numismatics|Oceania}}

{{DEFAULTSORT:Tongan pa'anga}}
[[Category:Circulating currencies]]
[[Category:Currencies of Oceania]]
[[Category:Economy of Tonga|Paanga]]
[[Category:Currencies introduced in 1967]]

Bhutanese ngultrum

2025-10-31T20:11:06Z

2601:C6:C481:350:C032:8F27:5BC6:5C52: /* Coins */

{{Short description|Currency of Bhutan}}
{{Infobox currency
| name = Ngultrum
| local_name = [[File:Bhutanese ngultrum-dz.svg|200px]]
| local_name_lang = dz
| image_1 =
| image_title_1 = Nu.1000 banknote (obverse)
| iso_code = BTN
| date_of_introduction = 1974
| using_countries = {{BTN}} (alongside [[Indian rupee]])
| inflation_rate = 5.2%
| inflation_source_date = ''[http://www.rma.org.bt/RMA%20Publication/Annual%20Report/annual%20report%20%202014-2015.pdf Royal Monetary Authority of Bhutan]'', 2015 est.
| pegged_with = {{flagicon|India}} [[Indian rupee]] (at par)
| subunit_ratio_1 = {{frac|1|100}}
| subunit_name_1 = chetrum
| symbol = Nu.
| symbol_subunit_1 = Ch.
| rarely_used_coins = Ch.5, Ch.10, Ch.25, Ch.50, Nu.1, Nu.3
| used_banknotes = Nu.1, Nu.5, Nu.10, Nu.20, Nu.50, Nu.100, Nu.500, Nu.1000<ref>{{cite web |url=http://banknotenews.com/files/tag-bhutan.php |title=BanknoteNews – Breaking news about world paper money. Powered by the Banknote Book |website=banknotenews.com |access-date=2008-11-13 |archive-date=2016-01-25 |archive-url=https://web.archive.org/web/20160125212549/http://banknotenews.com/files/tag-bhutan.php |url-status=dead }}</ref><ref>[http://banknotenews.com/files/21b9f1812326ed288a55e1e0b04350a9-437.php Bhutan issues new 50- and 1,000-ngultrum notes] {{Webarchive|url=https://web.archive.org/web/20160305023009/http://banknotenews.com/files/21b9f1812326ed288a55e1e0b04350a9-437.php |date=2016-03-05 }} BanknoteNews.com. Retrieved 2011-10-15.</ref>
| issuing_authority_title = [[Central bank|Monetary authority]]
| issuing_authority = [[Royal Monetary Authority of Bhutan]]
| issuing_authority_website = {{URL|www.rma.org.bt}}
}}
{{Contains special characters|Tibetan}}

The '''ngultrum''' ({{IPAc-en|ə|ŋ|ˈ|g|ʊ|l|t|r|əm}} {{respell|əng|GUUL|trəm}} or {{IPAc-en|ə|ŋ|ˈ|g|uː|(|l|)|t|r|əm}} {{respell|əng|GOO(L)|trəm}}; {{langx|dz|དངུལ་ཀྲམ}}, {{IPA|dz|ŋýˈʈúm|IPA}}, {{lit|silver coin}}; [[Currency symbol|symbol]]: '''Nu.''', [[ISO 4217|code]]: '''BTN''') is the [[currency]] of the [[Bhutan|Kingdom of Bhutan]]. It is subdivided into 100 chhertum ({{langx|dz|ཕྱེད་ཏམ|links=no}}, {{IPA|dz|pt͡ɕʰɛ́ˈtám|IPA}}, {{lit|half [coin]}}; spelled as ''chetrums'' on coins until 1979). The [[Royal Monetary Authority of Bhutan]], the central bank of Bhutan, is the [[List of mints|minting authority]] of the ngultrum banknotes and coins. The ngultrum is currently [[Pegged exchange rate|pegged]] to the [[Indian rupee]] at parity.

==History==

Until 1789, the coins of the [[Cooch Behar state|Cooch Behar]] mint circulated in Bhutan.<ref>{{cite web|url=https://www.mintageworld.com/coin/16-bhutan/#:~:text=The%20coins%20of%20Cooch%20Behar,were%20used%20for%20local%20purchase.|title=Old Coins of Bhutan|website=Mintage World|access-date=10 October 2021}}</ref> Following this, Bhutan began issuing its own coins known as ''chetrum'', mostly silver {{frac|1|2}} rupees. Hammered silver and copper coins were the only types issued until 1929, when modern style silver {{frac|1|2}} rupee coins were introduced, followed by bronze 1 paisa in 1931 (dated 1928). Nickel {{frac|1|2}} rupee coins were introduced in 1950. While the Cooch Behar mint coins circulated alongside Bhutan's own coins, [[decimalization]] was introduced in 1957, when Bhutan's first issue of coins denominated in [[naya paisa]]. The 1966 issues were 25 naya paisa, 50 naya paisa and 1 rupee coins, struck in [[cupro-nickel]].<ref>{{cite web|url=http://www.exchangerate.com/currency-information/bhutanese-rupee.html|title=Currency Information: Bhutanese Rupee|publisher=ExchangeRate.com|access-date=29 September 2016}} [[File:CC-BY-SA icon.svg|50px]] This article contains quotations from this source, which is available under a [https://creativecommons.org/licenses/by-sa/3.0/ Creative Commons Attribution-Sharealike 3.0 Unported License].</ref>

While the [[Bhutanese government]] developed its [[economy of Bhutan|economy]] in the early 1960s, [[monetization]] in 1968 led to the establishment of the [[Bank of Bhutan]]. As monetary reforms took place in 1974, the Ngultrum was officially introduced as 100 Chhetrum equal to 1 Ngultrum. The Ngultrum retained the peg to the [[Indian rupee]] at par, which the Bhutanese coins had maintained.<ref>{{cite web|url=http://www.rma.org.bt/history.jsp|title=Royal Monetary Authority of Bhutan - History|website=rma.org.bt|access-date=17 April 2021}}</ref>

The term derives from the [[Dzongkha]] ''ngul'', "[[silver]]" and ''trum'', a [[Hindi]] loanword meaning "money."<ref>{{cite book|url=https://books.google.com/books?id=n7rwCQAAQBAJ&q=trum+money&pg=PA24|title=World Monetary Units: An Historical Dictionary, Country by Country|first=Howard M.|last=Berlin|date=24 October 2008|publisher=McFarland|isbn=9781476606736|via=Google Books}}</ref>

The [[Ministry of Finance (Bhutan)|Ministry of Finance]] issued its first banknotes in 1974 in denominations of Nu.1, Nu.5, Nu.10 and Nu.100. This was followed by the establishment of the [[Royal Monetary Authority of Bhutan]] as the central bank of Bhutan in 1982, which took over the authority to issue banknotes in 1983, replacing the authority of the Ministry of Finance.<ref>{{cite web|url=http://oag.gov.bt/wp-content/uploads/2010/05/Royal-Monetary-Authority-of-Bhutan-Act-1982.pdf |title=Royal Monetary Authority Act of Bhutan 1982 |year=1982 |publisher=[[Government of Bhutan]] |access-date=2010-10-08}}</ref>

==Coins==
In 1974, aluminum Ch.5 and Ch.10, aluminium-bronze Ch.20, and cupro-nickel Ch.25 and Nu.1 were introduced. The Ch.5 was square and the Ch.10 was scallop-shaped. A new coinage was introduced in 1979, consisting of bronze Ch.5 and Ch.10, and cupro-nickel Ch.25 and Ch.50 and Nu.1 and Nu.3. Aluminium-bronze Ch.25 was also issued dated 1979. Ch.5 and Ch.10 have largely ceased circulating. Currently, coins are available in denominations of Ch.20, Ch.25, Ch.50 and Nu.1.

{|class="wikitable" style="font-size: 90%"
|+
|-
!rowspan=2| Image !! rowspan=2| Value !!colspan=4| Technical parameters !!colspan=2| Description !!colspan=2| Date of
|-
! Diameter !! Thickness !! Weight !! Edge !! Obverse !! Reverse !! issue !! withdrawal
|-
|
| Ch.20
| 22.00 mm
| rowspan="3" | 1.8 mm
| 4.5 g
| rowspan="4" | Reeded
| Man working in field. Lettering: {{lang|dz|ཀུན་ལ་བཟའ་བཏུང}} FOOD FOR ALL
| Lesser Version of [[Coat of Arms of Bhutan|Coat of Arms]] Lettering: {{lang|dz|འབྲུག}} BHUTAN CHETRUMS 20 {{lang|dz|ཕྱེད་ཊམ}}
| 1974
| rowspan="4" | Current
|-
|
| Ch.25
| 22.20 mm
| 4.6 g
| Golden fishes of good fortune. Lettering: ROYAL GOVERNMENT OF BHUTAN
| [[Dorje]] (a double diamond-thunderbolt) is a part of [[Coat of Arms of Bhutan|Coat of Arms]] and represents the harmony between secular and religious power Lettering: {{lang|dz|ཕྱེད་ཀྲམ་ཉེར་ལྔ།}} TWENTY-FIVE CHHERTUM
| rowspan="3" | 1979
|-
|
| Ch.50
| 25.85 mm
| 6.9 g
| Treasure vase (One of the 8 Revered Buddhist Symbols). Lettering: ROYAL GOVERNMENT OF BHUTAN
| Eight Various Revered Buddhist Symbols & in the center is the word {{lang|dz|འབྲུག}} (BHUTAN) Lettering: {{lang|dz|ཕྱེད་ཀྲམ་ལྔ་བཅུ།}} FIFTY CHHERTUM.
|-
| [[File:1ngultrum.jpg|200px]]
| Nu.1
| 27.95 mm
| 1.7 mm
| 8.2 g
| [[Coat of Arms of Bhutan|Coat of Arms]] within circle, date below Elaborate designed Wheel of Dharma on a Lotus. Lettering: ROYAL GOVERNMENT OF BHUTAN
| Coin divided into nine sections within circle, each has symbol, denomination below Eight Various Revered Buddhist Symbols & in the center is the word {{lang|dz|འབྲུག}} Lettering: {{lang|dz|དངུལ་ཀྲམ་གཅིག། }} ONE NGULTRUM
|}

==Banknotes==
===Previous series===
On June 2, 1974,<ref name="Linzmayer2011">{{cite book | last1 = Linzmayer | first1 = Owen | title = The Banknote Book | chapter = Bhutan | publisher = BanknoteNews.com | year = 2011 | location = San Francisco, CA | url = http://banknotebook.com | access-date = 2011-08-21}}</ref> Nu.1, Nu.5 and Nu.10 notes were introduced by the Royal Government of Bhutan, followed by Nu.2, Nu.20, Nu.50, and Nu.100 in 1978.<ref name="Linzmayer2011"/> On August 4, 1982, the Royal Monetary Authority of Bhutan Act was enacted, although the RMA did not begin operations until November 1, 1983, and did not issue its own family of notes until 1986.<ref name="Linzmayer2011"/>

{|class="wikitable" style="font-size: 90%"
!colspan="8"| Previous series [https://web.archive.org/web/20070807210251/http://www.rma.org.bt/aboutrma/currency.htm]
|-
!colspan="2"| Image !!rowspan="2"| Value !!rowspan="2"| Dimensions !!rowspan="2"| Main Colour !!colspan="3"| Description
|-
! Obverse !! Reverse !! Obverse !! Reverse !! Watermark
|-
|align="center" bgcolor="#000000"| [[File:Bhutan 1 Ngultrum.JPG|100px]]
|align="center" bgcolor="#000000"| [[File:Bhutan 1 Ngultrum back 50 percent.JPG|100px]]
|Nu.1
| 114 x 62 mm
|Blue
|The Government crest, two dragons
|[[Simtokha Dzong]]
|rowspan="5"| "Royal Monetary Authority" in top and bottom margin
|-
|align="center" bgcolor="#000000"| [[File:Ngultrum1.jpg|100px]]
|align="center" bgcolor="#000000"| [[File:Bhutan 5 Ngultrum back.JPG|100px]]
| Nu.5
| 130 × 62 mm
| Orange
| The Government crest, two mythical bird (Bja Tshering) (the bird of long life)
|rowspan="2"| Paro Rinpung Dzong
|-
|align="center" bgcolor="#000000"| [[File:10 Ngultrum Vorderseite.jpg|100px]]
|align="center" bgcolor="#000000"| [[File:10 Ngultrum Rückseite.jpg|100px]]
| Nu.10
| 140 × 70 mm
| Purple
| The Government crest, Dungkar (conch) (one of the eight lucky signs), [[Jigme Singye Wangchuck]]
|-
|align="center" bgcolor="#000000"| [[File:20 Ngultrum Vorderseite.jpg|100px]]
|align="center" bgcolor="#000000"| [[File:20 Ngultrum Rückseite.jpg|100px]]
| Nu.20
| 152 × 70 mm
| Yellow-green
|rowspan="2"| The Government crest, Khorlo (Wheel of Dharma, one of the eight auspicious signs), [[Jigme Dorji Wangchuck]]
| [[Punakha Dzong]]
|-
|align="center" bgcolor="#000000"| [[File:50 Ngultrum Vorderseite.jpg|100px]]
|align="center" bgcolor="#000000"| [[File:50 Ngultrum Rückseite.jpg|100px]]
| Nu.50
| 155 × 70 mm
| Pink
| [[Trongsa Dzong]], two mythical birds Bja Tshering (bird of long life)
|-
|align="center" bgcolor="#000000"| [[File:100 Ngultrum Vorderseite.jpg|100px]]
|align="center" bgcolor="#000000"| [[File:100 Ngultrum Rückseite.jpg|100px]]
| Nu.100
| 161 × 70 mm
| Green
| Norbu Rimpochhe (one of the seven auspicious gems), [[Jigme Singye Wangchuck]]
| [[Tashichho Dzong]]
|rowspan="2"| Crossed Dorji (Dorji jardrum)
|-
|align="center" bgcolor="#000000"| [[File:500 Ngultrum banknote 1st series (A).png|100px]]
|align="center" bgcolor="#000000"| [[File:500 Ngultrum banknote 1st series (B).png|100px]]
| Nu.500
| 160 × 70 mm
| Red
| Norbu Rimpochhe encircled by two Dragons (one of the seven auspicious gems), [[Ugyen Wangchuck]]
| [[Punakha Dzong]]
|-
|colspan="8"|{{Standard banknote table notice|BrE=Y}}
|-
|}

===Present series===

In 2006, the Monetary Authority introduced its latest series of notes, with denominations of Nu.1, Nu.5, Nu.10, Nu.20, Nu.50, Nu.100, Nu.500, and Nu.1000. These notes use a hybrid substrate.<ref>{{cite web|url=http://www.banknotenews.com/files/tag-bhutan.php|title=Bhutan - Banknote News|website=www.banknotenews.com|access-date=12 April 2018|archive-date=5 April 2018|archive-url=https://web.archive.org/web/20180405172946/http://banknotenews.com/files/tag-bhutan.php|url-status=dead}}</ref>

{|class="wikitable" style="font-size: 90%"
!colspan="10"| 2006–present Series
|-
!colspan="2"| Image !!rowspan="2"| Value !!rowspan="2"| Dimensions !!rowspan="2"| Main Color !!colspan="2"| Description !!rowspan="2"| Date of issue !!rowspan="2"| Date of first issue !!rowspan="2"| Watermark
|-
! Obverse !! Reverse !! Obverse !! Reverse
|-
|align="center" | [http://www.banknote.ws/COLLECTION/countries/ASI/BHU/BHU0027.htm]
|align="center" | [http://www.banknote.ws/COLLECTION/countries/ASI/BHU/BHU0027.htm]
| Nu.1
| 120 x 60 mm
| Blue, red and green
| Dragons flanking [[Wheel of Dharma]]
| [[Simtokha Dzong]]
| 2006 2013
| rowspan="2" | November 20, 2006
| rowspan="2" | None
|-
|align="center" | [http://www.banknote.ws/COLLECTION/countries/ASI/BHU/BHU0028.htm]
|align="center" | [http://www.banknote.ws/COLLECTION/countries/ASI/BHU/BHU0028.htm]
| Nu.5
| 125 x 60 mm
| Yellow, brown and red
| Birds
| [[Paro Taktsang]]
| 2006 2011 2015
|-
|align="center" | [http://www.banknote.ws/COLLECTION/countries/ASI/BHU/BHU0029.htm]
|align="center" | [http://www.banknote.ws/COLLECTION/countries/ASI/BHU/BHU0029.htm]
| Nu.10
| 125 x 65 mm
| Purple, dark green and yellow
| [[Jigme Singye Wangchuck]]; Dungkar (conch), one of the eight good luck symbols
| Paro [[Rinpung Dzong]]
| 2006 2013
| 2007
| [[Jigme Singye Wangchuck]]
|-
|align="center" | [http://www.banknote.ws/COLLECTION/countries/ASI/BHU/BHU0030.htm]
|align="center" | [http://www.banknote.ws/COLLECTION/countries/ASI/BHU/BHU0030.htm]
| Nu.20
| 130 x 65 mm
| Yellow and green
| [[Jigme Dorji Wangchuck]]
| [[Punakha Dzong]]
| 2006 2013
| November 20, 2006
| [[Jigme Dorji Wangchuck]]
|-
|align="center" | [http://www.banknote.ws/COLLECTION/countries/ASI/BHU/BHU0031.htm]
|align="center" | [http://www.banknote.ws/COLLECTION/countries/ASI/BHU/BHU0031.htm]
| Nu.50
| 145 x 70 mm
| Pink, orange and green
| [[Jigme Khesar Namgyel Wangchuck]]
| [[Trongsa Dzong]]
| 2008 2013
| November 6, 2008
| [[Jigme Khesar Namgyel Wangchuck]]
|-
|align="center" | [http://www.banknote.ws/COLLECTION/countries/ASI/BHU/BHU0032.htm]
|align="center" | [http://www.banknote.ws/COLLECTION/countries/ASI/BHU/BHU0032.htm]
| Nu.100
| 145 x 70 mm
| Green
| [[Jigme Singye Wangchuck]]; Norbu Rimpochhe, one of the seven auspicious gems
| [[Tashichho Dzong]], dragons in upper corners
| 2006 2011 2015
| 2007
| rowspan="2" | [[Jigme Singye Wangchuck]]
|-
|align="center" | [http://www.banknote.ws/COLLECTION/countries/ASI/BHU/BHU0033.htm]
|align="center" | [http://www.banknote.ws/COLLECTION/countries/ASI/BHU/BHU0033.htm]
| Nu.500
| 155 x 70 mm
| Pink, orange and green
| [[Ugyen Wangchuck]] with the [[Raven Crown]]
| [[Punakha Dzong]]
| 2006 2011
| November 20, 2006
|-
|align="center" | [http://www.banknote.ws/COLLECTION/countries/ASI/BHU/BHU0034.htm]
|align="center" | [http://www.banknote.ws/COLLECTION/countries/ASI/BHU/BHU0034.htm]
| Nu.1000
| 165 x 70 mm
| Yellow, red and gold
| [[Jigme Khesar Namgyel Wangchuck]] with the [[Raven Crown]]
| [[Tashichho Dzong]]
| 2008 2016
| November 6, 2008
| [[Jigme Khesar Namgyel Wangchuck]]
|-
|colspan="10"|{{Standard banknote table notice}}
|-
|}

===Commemorative notes===
{|class="wikitable" style="font-size: 90%"
!colspan="9"| Commemorative notes
|-
!rowspan="2"| Image !!rowspan="2"| Value !!rowspan="2"| Dimensions !!rowspan="2"| Main Color !!colspan="2"| Description !!rowspan="2"| Date of issue !!rowspan="2"| Date of first issue !!rowspan="2"| Watermark
|-
! Obverse !! Reverse
|-
|align="center" | [http://www.banknote.ws/COLLECTION/countries/ASI/BHU/BHU0035.htm]
| Nu.100
| 145 x 70 mm
| Orange, brown and red
| Mythical angel carrying the [[Raven Crown]]; [[Emblem of Bhutan|national emblem]]; royal wedding logo consisting of khorlo (wheel) signifying royalty, circles with dhar (ceremonial scarf) signifying eternal union of thap (method) and sherab (wisdom), and the dham tshig tsangma and lotus, symbolizing purity of union; [[Jigme Khesar Namgyel Wangchuck]] and [[Jetsun Pema|Queen Jetsun Pema]]
| [[Punakha Dzong]] (aka Pungtang Dechen Photrang Dzong, meaning “the palace of great happiness or bliss”)
| 2011
| October 13, 2011
| None
|-
| [http://www.banknote.ws/COLLECTION/countries/ASI/BHU/BHU0037.htm]
| Nu.100
| 146 x 70 mm
| Yellow, gold, blue, and red
| [[Jigme Khesar Namgyel Wangchuck|King Jigme Khesar Namgyel Wangchuck]] and [[Jetsun Pema|Queen Jetsun Pema]]; [[Jigme Namgyel Wangchuck]]
| Mountains; dragon
| February 5, 2016
| 2017
| Jigme Singye Wangchuck with electrotype swirl
|-
|colspan="9"|{{Standard banknote table notice}}
|-
|}

== Exchange rate ==
{{Exchange Rate|BTN}}

==See also==
* [[Royal Monetary Authority of Bhutan]]
* [[Economy of Bhutan]]

==References==
{{refbegin}}
{{reflist}}
*{{numis cite SCWC|date=1991}}
*Panish, Charles K: "Early Coinage of Bhutan". ''The American Numismatic Society, Museum Notes 17'', New York 1971, p. 247-254 and plates XLVII-XLVIII.
*Rhodes, Nicholas:''The Coinage of Bhutan''. Oriental Numismatic Society, Information Sheet no 16, January 1977.
*Rhodes, Nicholas: "Coinage in Bhutan".''Journal of Bhutan Studies.''. The Centre of Bhutan Studies, vol. 1, no. 1, Thimphu, Autumn, 1999, p. 84-113.
*Rhodes, Nicholas: "The Monetisation of Bhutan". ''Journal of Bhutan Studies.''. The Centre of Bhutan Studies, vol. 2, no. 1, Thimphu, Winter 2000, p. 85-103.
*{{numis cite SCWC|date=1991}}
*{{numis cite SCWPM|date=1994}}
{{refend}}

==External links==
* [https://web.archive.org/web/20080820144216/http://www.digitalhimalaya.com/collections/journals/jbs/pdf/JBS_08_07.pdf Analysis of Pegged Exchange Rate Between Bhutan and India]
* [https://bhutanculturaltravel.com/bhutan-currency-2/ Bhutan Currecy & Banks in Bhutan]

*[http://www.bis-ans-ende-der-welt.net/Bhutan-B-En.htm Historical and current banknotes of Bhutan]
* http://himalaya.socanth.cam.ac.uk/collections/journals/jbs/pdf/JBS_01_01_04.pdf
* http://himalaya.socanth.cam.ac.uk/collections/journals/jbs/pdf/JBS_02_02_03.pdf
* https://web.archive.org/web/20120806142959/http://picasaweb.google.com/Vercrusse/Bhutan_Coins02

{{Rupee}}
{{Bhutan topics}}
{{Currencies of Asia}}
{{Portal bar|Money|Numismatics}}

[[Category:Economy of Bhutan]]
[[Category:Fixed exchange rate]]
[[Category:Currencies of Bhutan]]
[[Category:Currencies introduced in 1974]]
[[Category:Currencies of Asia]]
[[Category:Circulating currencies]]
[[Category:Rupee]]

Finnish markka

2025-10-31T19:42:46Z

2601:C6:C481:350:C032:8F27:5BC6:5C52: /* First markka */

{{Short description|Currency of Finland from 1860 to 2002}}
{{for|the Norwegian county|Finnmark}}
{{Use dmy dates|date=March 2022}}
{{Infobox currency
| local_name1 = Suomen markka
| local_name_lang1 = fi
| local_name2 = Finsk mark
| local_name_lang2 = sv
| image_1 = Finlandia 1 markka.JPG
| image_title_1 = 1 mk, 1983
| inflation_rate = 1.3%
| inflation_source_date = CIA World Factbook 2001
| iso_code = FIM
| using_countries = {{Unbulleted list|
| {{flagicon image|Coats of arms of the Grand Duchy of Finland.svg}} [[Grand Duchy of Finland]] (1860–1917)
| {{flagicon|Finland|1920}} [[Republic of Finland]] (1917–2002)
}}
| date_of_introduction = 1860
| replaced_currency = [[Russian ruble|Ruble]] and [[Swedish riksdaler|Riksdaler]]
| replaced_by_currency = [[Euro]]
| ERM_since = 14 October 1996
| ERM_fixed_rate_since = 31 December 1998
| euro_replace_non_cash = 1 January 1999
| euro_replace_cash = 1 March 2002
| ERM_fixed_rate = 5.94573 mk
| subunit_ratio_1 = {{frac|1|100}}
| subunit_name_1 = penni
| symbol = mk<ref>{{cite web |url=https://github.com/unicode-org/cldr/blob/main/common/main/fi.xml#L6823 |title=The home of the Unicode Common Locale Data Repository |date= |website=github.com |publisher=Unicode |access-date=2024-07-21 |at=li. 6823}}</ref>
| symbol_subunit_1 = p
| plural = markkaa ([[Finnish language|Finnish]] [[partitive case|partitive]] sg.) mark ([[Swedish language|Swedish]])
| plural_subunit_1 = penniä ([[Finnish language|Finnish]] [[partitive case|partitive]] sg.) penni ([[Swedish language|Swedish]])
| frequently_used_coins = 10p, 50p, 1 mk, 5 mk, 10 mk
| rarely_used_coins = 1p (until 1979), 5p and 20p (until 1990)
| frequently_used_banknotes = 20 mk, 50 mk, 100 mk, 500 mk
| rarely_used_banknotes = 1000 mk
| issuing_authority = [[Bank of Finland]]
| issuing_authority_website = {{URL|https://www.suomenpankki.fi/en/}}
| obsolete = yes
}}

The '''markka''' ({{langx|fi|markka}}; {{langx|sv|mark}}; [[currency symbol|sign]]: '''mk'''; [[ISO 4217|ISO code]]: '''FIM'''), also known as the '''Finnish mark''', was the [[currency]] of [[Finland]] from 1860 until 28 February 2002, when it ceased to be legal tender. The markka was divided into 100 [[penny|pennies]] ({{langx|fi|penni}}; {{langx|sv|penni}}), abbreviated as "p". At the point of conversion, the rate was fixed at €1 = 5.94573 mk.

The markka was replaced by the [[euro]] (€), which had been introduced, in cash form, on 1 January 2002. This was after a transitional period of three years, when the euro was the official currency but only existed as "book money" outside of the [[monetary base]]. The dual circulation period, when both the markka and the euro had legal tender status, ended on 28 February 2002.

==Etymology==
The name ''markka'' was based on a medieval unit of weight. Both ''markka'' and ''penni'' are similar to words used in Germany for that country's former currency, based on the same etymological roots as the [[Deutsche Mark]] and [[pfennig]].

Although the word ''markka'' predates the currency by several centuries, the currency was established before being named ''markka''. A competition was held for its name, and some of the other entries included ''{{Langr|fi|sataikko}}'' (meaning "having a hundred parts"), "{{Langr|fi|omena}}" (apple) and ''{{Langr|fi|suomo}}'' (from ''{{Langr|fi|Suomi}}'', the Finnish name for Finland).<ref name="kuusterä">Kuusterä, Antti: [https://web.archive.org/web/20070609155615/http://video.helsinki.fi/media-arkisto/Studia/25102001a.htm Oravannahasta sirukorttiin - jäähyväiset markalle]. Accessed on 14 September 2012.</ref>

The Finnish language does not use plurals when referring to multiple markkaa, but [[partitive case|partitive]] singular forms: ''"10 markkaa"'' and ''"10 penniä"'' (the nominative is ''penni''). In Swedish, the singular and plural forms of "mark" and "penni" are the same.

===Nicknames===
When the euro replaced the markka, {{Lang|fi|mummonmarkka}} ({{literal translation|grandma's markka}}, sometimes shortened to just {{Lang|fi|mummo}}) became a new colloquial term for the old currency. The sometimes used "old markka" can be misleading, since it can also be used to refer to the pre-1963 markka. In [[Helsinki slang]], the sum of a hundred markkaa was traditionally called a {{Lang|fi|huge}} [hu.ge] (from Swedish {{Lang|sv|hundra}} for "hundred"). After the 1963 reform, this name was used for one new markka.

==History==
[[File:FIN-A36b-Finlands Bank-20 Markkaa (1862).jpg|thumb|left|300px|20 mk banknote issued in 1862 for the [[Grand Duchy of Finland]]. The banknote's obverse depicts the [[coat of arms of Finland]] on a Russian [[double-headed eagle]], and was personally signed by the director and the cashier of the Bank of Finland. The text on the obverse is in Swedish, whereas the reverse is primarily in Russian and Finnish.]]
{{multiple image
| direction =
| alignment = left
| width = 180
| footer = 5 mk banknote of the Grand Duchy of Finland (1897)
| image2 = 5 Markkaa - Finlands Bank (1897) Nnna 03.jpg
| caption2 =
| image1 = 5 Markkaa - Finlands Bank (1897) Nnna 04.jpg
| caption1 =
}}
{{multiple image
| direction =
| alignment = left
| width = 180
| footer = 500 mk banknote of the Grand Duchy of Finland (1909)
| image2 = 500 Markkaa - Finlands Bank (1909) Confucians 03.jpg
| caption2 =
| image1 = 500 Markkaa - Finlands Bank (1909) Confucians 04.jpg
| caption1 =
}}
[[File:Suomen hopeamarkka 1907.png|thumb|right|A silver markka coin used in the autonomous Grand Duchy of Finland from 1864 to 1915. The obverse of the coin (shown on the right) features the double-headed eagle of Russia, with the coat of arms featuring a lion depicted at the centre.]]
During its time as a [[Grand Duchy of Finland|grand duchy]] under the [[Russian Empire]], Finland used the [[Russian rouble]] and the ''[[Swedish riksdaler|riksdaler]]'' of its former parent country Sweden as concurrent currencies until the currency redefinition in 1840. After this Finland used the Russian rouble as its sole currency for two decades.

The markka was introduced in 1860<ref>{{cite web | url = https://www.suomenpankki.fi/fi/media-ja-julkaisut/puheet-ja-haastattelut/2006/pankinjohtaja-sinikka-salon-puhe-snellman-ja-suomen-markka--nayttelyn-avajaisissa-suomen-pankin-rahamuseossa/ | title = Pankinjohtaja Sinikka Salon puhe Snellman ja Suomen markka -näyttelyn avajaisissa Suomen Pankin rahamuseossa | publisher = Suomen Pankki | date = 2006-01-10 | access-date = 2017-12-09 | archive-date = 9 December 2017 | archive-url = https://web.archive.org/web/20171209100458/https://www.suomenpankki.fi/fi/media-ja-julkaisut/puheet-ja-haastattelut/2006/pankinjohtaja-sinikka-salon-puhe-snellman-ja-suomen-markka--nayttelyn-avajaisissa-suomen-pankin-rahamuseossa/ | url-status = dead }}</ref> by the [[Bank of Finland]], replacing the [[Russian ruble]] at a rate of four markkaa to one ruble.

Senator [[Fabian Langenskiöld]] is called "father of the markka". In late 1859, on Langenskiöld's initiative the Senate of Finland made a proposition to the Emperor that banknotes of the Russian rouble would no longer be used for their face value in Finland, but instead for their real price, which would be defined at the stock market in [[St. Petersburg]].<ref name="nurmi">Nurmi, Esko: Markan oikea isä ei ollut Snellman. ''[[Helsingin Sanomat]]'' 6 December 2001.</ref> The reason for this was instability caused by the [[Crimean War]], which had caused the [[Bank of Finland]] to stop exchanging its rouble banknotes for silver.<ref name="nurmi"/> Finland asked the Emperor for permission for a currency of its own and got the permission on 4 April 1860, when Emperor [[Alexander II of Russia]] signed the ''Merciful announcement by his Imperial Majesty for a new currency for the Grand Duchy of Finland''. The markka was taken into use in 1860,<ref name="salo">[https://web.archive.org/web/20171209100458/https://www.suomenpankki.fi/fi/media-ja-julkaisut/puheet-ja-haastattelut/2006/pankinjohtaja-sinikka-salon-puhe-snellman-ja-suomen-markka--nayttelyn-avajaisissa-suomen-pankin-rahamuseossa/ Pankinjohtaja Sinikka Salon puhe Snellman ja Suomen markka -näyttelyn avajaisissa Suomen Pankin rahamuseossa], [[Bank of Finland]] 10 January 2006. Accessed on 9 December 2017.</ref> but its value was tied to the Russian rouble: one markka equalled one quarter of a rouble, but there was speculation in Russia that even that was too much of a value for the new currency.<ref name="nurmi"/><ref name="kuusterä"/>

Both Fabian Langenskiöld who acted as the head of the finance office of the Senate of Finland from 1858 to 1863 and his successor [[Johan Vilhelm Snellman]] have been called "the father of the markka". The markka was taken into use in Langenskiöld's time, but its separation from the Russian rouble fell to Snellman.<ref name="kuusterä"/> In 1862 Langenskiöld had received acceptance from the Emperor for his plan to have the markka coins as Finland's only legal tender and give the Bank of Finland the right to accept its banknotes for their face value.<ref name="nurmi"/> The implementation of this plan fell to Snellman after Langenskiöld's death in summer 1863.<ref name="nurmi"/>

A loan was necessary for the birth of the markka, as accepting banknotes would only be possible if there was enough silver in the vault of the Bank of Finland. This loan was received from the powerful banker [[Carl Mayer von Rotschild]]. This was Finland's first loan from the western finance market.

In 1865, the markka was separated from the ruble and tied to the value of [[silver]], becoming an independent currency.<ref>Kuisma, Markku; Keskisarja, Teemu: ''Erehtymättömät'', pp. 18-19. Helsinki, WSOY 2012. {{ISBN|978-951-0-39228-7}}.</ref><ref name="snellmanbiografia">{{cite web |url= https://kansallisbiografia.fi/english/person/3639 |title= Snellman, Johan Vilhelm (1806 - 1881) |last1=Klinge |first1= Matti|website= The National Biography of Finland |access-date=24 November 2017 }}</ref> From 1878 to 1915, Finland adopted the gold standard of the [[Latin Monetary Union]].<ref name=Emergence>Carl-Ludwig Holtfrerich, Jaime Reis, and Gianne Toniolo, The Emergence of Modern Central Banking from 1918 to the Present, table 4.2</ref>

In 1878 the markka was tied to a [[gold standard]], and 20 markkaa corresponded to 6.45 grams of a mixture containing 900 per mille of pure gold. The markka was of equal value with the [[French franc]], the [[Belgian franc]], the [[Swiss franc]] and the [[Italian lira]] (and later also with other member states of the so-called [[Latin Monetary Union]]). The size, weight and gold content of these coins was equal regardless of the issuing country and in theory, they were also legal tender regardless of the issuing country, even though gold 10 and 20 markkaa coins were struck in so small amounts compared to the other corresponding European coins that no significant numbers of these coins ever wound up in central Europe.

Before [[World War I]] the legal tender in Finland was gold markka coins, of which quite few were actually in circulation. On the other hand, banknotes issued by the Bank of Finland were not legal tender. This meant that a creditor had to accept Finnish gold coins as payment, but was under no obligation to accept banknotes, even though these could be exchanged for gold coins. In practice however everyone also accepted payment in banknotes.

Up until [[World War I]], the value of the markka fluctuated within +23%/−16% of its initial value, but with no trend. The markka suffered heavy inflation (91%) during 1914–18.<ref name="rak">{{cite web|url=https://www.stat.fi/til/khi/2016/khi_2016_2017-01-13_tau_001.html|title=Rahanarvonkerroin 1860–2016|publisher=[[Statistics Finland]]|date=2017|access-date=29 December 2019}}</ref> Gaining independence in 1917, Finland returned to the gold standard from 1926 to 1931.<ref name=Emergence /> While prices remained stable until 1940,<ref name="rak" /> the markka suffered heavy inflation (17% annually on average<ref name="rak" />) during [[Military history of Finland during World War II|World War II]] and again in 1956–57 (11%).<ref name="rak" /> In 1963, in order to reset the inflation, the markka was redenominated and replaced by a ''new markka'' worth 100 old markkaa.

Finland joined the [[Bretton Woods Agreement]] in 1948. The value of the markka was pegged to the dollar at 320 mk = [[United States dollar|US$]]1, which became New 3.20 mk = US$1 in 1963 and devalued to 4.20 mk = US$1 in 1967. After the breakdown of the Bretton Woods agreement in 1971, a basket of currencies became the new reference. Inflation was high (over 5%) during 1971–85.<ref name="rak" /> Occasionally, [[devaluation]] was used, 60% in total between 1975 and 1990, allowing the currency to more closely follow the depreciating [[US dollar]] than the rising [[German mark]]. The paper industry, which mainly traded in US dollars, was often blamed for demanding these devaluations to boost their exports. Various economic controls were removed and the market was gradually liberalized throughout the 1980s and the 1990s.

The monetary policy called "strong markka policy" (''vahvan markan politiikka'') was a characteristic feature of the 1980s and early 1990s. The main architect of this policy was President [[Mauno Koivisto]], who opposed floating the currency and devaluations. As a result, the nominal value of the markka was extremely high, and in the year 1990, Finland was nominally the most expensive country in the world according to [[OECD]]'s Purchasing Power Parities report.<ref>{{cite book|last=Schienstock|first=Gerd|editor-first1=Gerd |editor-last1=Schienstock |date=January 2004|pages =34|title =Embracing the knowledge economy: The dynamic transformation of the Finnish innovation system|doi =10.4337/9781843769811|isbn=9781843769811}}</ref>

Koivisto's policy was maintained only briefly after [[Esko Aho]] was elected Prime Minister. In 1991, the markka was pegged to the currency basket [[European Currency Unit|ECU]], but the peg had to be withdrawn after two months with a [[devaluation]] of 12%. In 1992, Finland was hit by a severe [[recession]], the [[early 1990s depression in Finland]]. It was caused by several factors, the most severe being the incurring of debt, as the 1980s [[economic boom]] was based on debt. Also, the [[Soviet Union]] had [[Breakup of the Soviet Union|collapsed]], which brought an end to [[bilateral trade]], and existing trade connections were severed. The most important source of export revenue, Western markets, were also depressed during the same time, in part due to the war in Kuwait. As a result, by some opinions years overdue, the artificial fixed exchange rate was abandoned and the markka was [[Floating currency|floated]].<ref>Genberg, Hans: [http://www2.wu-wien.ac.at/ecsa//emu/papgenberg.pdf ''Monetary Policy Strategies after EU Enlargement''] {{Webarchive|url=https://web.archive.org/web/20130514073610/http://www2.wu-wien.ac.at/ecsa//emu/papgenberg.pdf |date=2013-05-14 }}. Graduate Institute of International Studies, Geneva, Switzerland, 2 February 2004. Accessed 7 February 2009.</ref> Its value immediately decreased 13% and the inflated nominal prices converged towards German levels. In total, the value of the markka had decreased 40% as a result of the recession. Also, as a result, several entrepreneurs who had borrowed money denominated in foreign currency suddenly faced insurmountable debt.<ref>{{Cite web |url=http://www.barrikadi.fi/artikkelit/kun-oikeutta-ohjattiin |title=Archived copy |access-date=2013-10-06 |archive-url=https://web.archive.org/web/20131013182341/http://www.barrikadi.fi/artikkelit/kun-oikeutta-ohjattiin |archive-date=2013-10-13 |url-status=dead }}</ref>

Inflation was low during the markka's independent existence as a floating currency (1992–1999): 1.3% annually on average.<ref name="rak" /> The markka was added into the [[European Exchange Rate Mechanism|ERM]] system in 1996 and then became a fraction of the [[euro]] in 1999, with physical euro money arriving later in 2002. It has been speculated that if Finland had not joined the euro, market fluctuations such as the [[dot-com bubble]] would have reflected as wild fluctuations in the price of the markka. [[Nokia]], formerly traded in markka, was in 2000 the European company with the highest [[market capitalization]].{{failed verification|date=March 2023}}<ref name="Wall Street Journal">{{cite news|title=Finnish Consumer Prices are the highest in OECD|newspaper=Wall Street Journal|date=14 January 1992}}</ref>

==Coins==

=== First markka ===
[[File:FINLANDE, pièce de 20 Markaa frappée en 1912 à Helsinki durant l'administration Russe.jpg|thumb|left|A 20 mk coin from 1912]]
When the markka was introduced, coins were minted in copper (1, 5 and 10 penniä), silver (25p and 50p, 1 mk and 2 mk) and gold (10 mk and 20 mk). The first markka coins were designed by the Russian artist [[Alexander Fadeyev (artist)|Alexander Fadeyev]]. The first coin stamps for the markka coins were carved by the carver of the Mint of Finland [[Lea Ahlborn]] in 1863. The Mint of Finland started operating right after its premises were completed in [[Katajanokka]], [[Helsinki]] in autumn 1864,<ref>Salo, Sinikka: ''Katoaako käteisraha maksamisen välineenä?'' In ''Katajanokan Kaiku 2024'', publications of the Katajanokka Society, pp. 26-28.</ref> and the first silver markka coins were struck on 15 October 1864.<ref>[https://web.archive.org/web/20150923133856/http://www.suomenrahapaja.fi/fin/mint_of_finland/the_history_of_mint_of_finland Historia], Mint of Finland. Accessed on 23 September 2015.</ref>

When the markka was tied to silver in 1865, markka coins were struck for "94.48 pieces for a pound of clear silver", meaning that a [[pound (mass)|pound]] of [[silver]] gave 94.48 markka coins. "Full-value" coins of 1 and 2 markkaa were struck from a mixture containing 868 [[per mille]] of silver.<ref>[http://www.kolikot.com/markat/1mk/1864-1915 1mk 1864 - 1915], ''kolikot.com''. Accessed on 1 October 2007.</ref><ref>[http://www.kolikot.com/markat/2mk/1864-1917 2mk 1864 - 1917], ''kolikot.com''. Accessed on 1 October 2007.</ref> The mixture used for penni coins contained 750 per mille of silver.

When the markka was tied to gold in 1877, coins of 10 and 20 markkaa were struck in gold. They were made from a mixture containing 90% of [[gold]] and 10% of [[copper]]. The gold 20 markkaa coin (6.45 g) contained 5 and 25/31 grams of pure gold, the rest was copper.<ref>[http://www.kolikot.com/markat/20mk/1878-1913 20mk 1878 - 1913], ''kolikot.com''. Accessed on 1 October 2007.</ref> The 10 markkaa coin contained gold of half of this amount, i.e. 2 and 28/31 grams of pure gold.<ref name="tietosanakirja">''Pieni tietosanakirja'', 3rd edition, p. 603. Article "[https://runeberg.org/pieni/3/0603.html Raha]" ("Money"). Otava, 1927.</ref>

After the [[World War I|First World War]], silver and gold issues were ceased and cupro-nickel 25p and 50p and 1 mk coins were introduced in 1921, followed by aluminium-bronze 5 mk, 10 mk and 20 mk between 1928 and 1931. During the [[World War II|Second World War]], copper replaced cupro-nickel in the 25p and 50p and 1 mk, followed by an issue of iron 10p, 25p and 50p and 1 mk. This period also saw the issue of holed 5p and 10p coins.<ref name=Friedberg>{{cite book|author1=Friedberg, Arthur L. |author2=Friedberg, Ira S. |title=Gold Coins of the World: From Ancient Times to the Present : an Illustrated Standard Catalogue with Valuations|url=https://books.google.com/books?id=TlnoMdZu40UC&pg=PA212 |year=2009 |publisher=Coin & Currency Institute |isbn=978-0-87184-308-1 |pages=212–213}}</ref>
{| class="wikitable"
|+Markka coins 1918–52
!Denomination
!Years
! colspan="2" |Image
!Material
!Size
!Obverse
!Reverse
!Designer
|-
|'''1 p'''
|1919–24
|
|
| rowspan="5" |Copper
|14 mm
| rowspan="2" |Rampant lion and date
| rowspan="2" |Denomination flanked by heraldic roses
| rowspan="22" |Isak Sundell
|-
| rowspan="2" |'''5 p'''
|1918–40
|
|
|18 mm
|-
|1941–43
|
|
|16 mm
|Heraldic rose, spruce wreath, central hole and date
|Denomination, two heraldic roses and a central hole
|-
| rowspan="3" |'''10 p'''
|1919–40
|
|
|22 mm
|Rampant lion and date
|Denomination surrounded by heraldic roses
|-
|1941–43
|
|
|18.5 mm
| rowspan="2" |Heraldic rose, spruce wreath, central hole and date
| rowspan="2" |Denomination, two heraldic roses and a central hole
|-
|1943–45
|
|
|Iron
| rowspan="4" |16 mm
|-
| rowspan="3" |'''25 p'''
|1921–40
|
|
|Cupro-nickel
| rowspan="10" |Rampant lion and date
| rowspan="6" |Denomination flanked by rye spikes
|-
|1940–43
|
|
|Copper
|-
|1943–45
|
|
|Iron
|-
| rowspan="3" |'''50 p'''
|1921–40
|
|
|Cupro-nickel
| rowspan="3" |18.5 mm
|-
|1940–43
|
|
|Copper
|-
|1943–48
|
|
|Iron
|-
| rowspan="4" |'''1 mk'''
|{{nowrap|1921–24}}
|[[File:Markka1921.JPG|frameless|1 mk obverse]]
|[[File:Markka1921r.JPG|frameless|1 mk reverse]]
| rowspan="2" |Cupro-nickel
|24 mm
| rowspan="4" |Denomination flanked by conifer branches
|-
|1928–40
|
|
| rowspan="3" |21 mm
|-
|1940–51
|
|
|Copper
|-
|1943–44
|
|
|Iron
|-
| rowspan="2" |'''5 mk'''
|1928–46
|[[File:5markkaa1936o.JPG|frameless|5 mk obverse]]
|[[File:5 Markkaa 1936.JPG|frameless|5 mk reverse]]
|Aluminium bronze
| rowspan="2" |23 mm
| rowspan="4" |Coat of arms of Finland within conifer wreath and date
| rowspan="4" |Inscription ''Suomen tasavalta'', conifer wreath and denomination
|-
|1946–52
|
|
|Brass
|-
|'''10 mk'''
|1928–39
|[[File:10markkaa1930o.JPG|frameless|10 mk obverse]]
|[[File:10markkaa1930.JPG|frameless|10 mk reverse]]
| rowspan="2" |Aluminium bronze
|27 mm
|-
|'''20 mk'''
|1931–39
|[[File:20markkaa1935o.JPG|frameless|20 mk obverse]]
|[[File:20markkaa1935.JPG|frameless|20 mk reverse]]
|31 mm
|-
|'''100 mk'''
| rowspan="2" |1926
|
|
| rowspan="2" |Gold 900
|18.5 mm
| rowspan="2" |Inscription ''Suomi Finland'', rampant lion and date
| rowspan="2" |Denomination flanked by spruce branches
|-
|'''200 mk'''
|
|
|22.5 mm
|}

All coins below 1 markka had ceased to be produced by 1948. In 1952, a new coinage was introduced, with smaller iron (later nickel-plated) 1 mk and 5 mk coins alongside aluminium-bronze 10 mk, 20 mk and 50 mk coins and (from 1956) silver 100 mk and 200 mk denominations. This coinage continued to be issued until the introduction of the new markka in 1963.

=== Second markka ===
The old coins and banknotes were exchanged to new ones at 100:1 rate.

==== First series ====
The new markka coinage consisted initially of six denominations: 1 (bronze, later aluminium), 5 (bronze, later aluminium), 10 (aluminium-bronze, later aluminium), 20 and 50 penniä (aluminium-bronze) and 1 markka (silver, later cupro-nickel). The design of new coins (1963) was identical to those of the last issue of the old markka but with new denominations (i.e. 1 penni instead of 1 markka, etc.).

From 1972, aluminium-bronze 5 mk were also issued.

<gallery>
File:Koisjarvi-rahat 10 & 50 mk back.jpg|10 mark (1954) & 50 mk (1953)
File:Finlandia 5 pennia sans fond.png|5 p [[Looped square]] (1977)
File:Finlandia 20 pennia.JPG|20 p (1980)
</gallery>

==== Second series ====

The last series of Finnish markka coins included five coins (listed with final [[euro]] values, rounded to the nearest cent):
* 10p (cupronickel) – a honeycomb on the reverse and a [[lily of the valley]] flower on the obverse = €0.02
* 50p (cupronickel) – [[haircap moss]] on the reverse and a [[bear]] on the obverse = €0.08
* 1 mk (aluminum-bronze) – the value with two traditional Finnish patterns on the reverse and the Finnish coat of arms on the obverse = €0.17
* 5 mk (aluminum-bronze) – a [[Nymphaeaceae|lily pad]] leaf and a [[dragonfly]] on the reverse and a [[Saimaa Ringed Seal|Saimaa seal]] on the obverse = €0.84
* 10 mk ([[bimetallic coin]], aluminum-bronze centre and cupronickel ring) – [[Rowan|rowan tree]] branches and berries on the reverse and a [[Capercaillie|wood grouse]] on the obverse = €1.68

{|class="wikitable" style="margin:auto; font-size:90%; border-width:1px;"
! colspan=11 | Second series (1990–1993)
|-
! rowspan=2 | Image
! rowspan=2 | Value
! colspan=4 | Technical parameters
! colspan=3 | Description
! rowspan=2 | Issued from
! rowspan=2 | Lapse
|-
! Diameter (mm)
! Mass (g)
! colspan=2 | Composition
! Edge
! Obverse
! Reverse
|-
| align=center | [[File:10 finnish penniä O & R.jpg|115x115px]]
| 10 p
| align=center | 16.30
| align=center | 1.80
| style="background-color:#dcdcdc;"|
| rowspan=2 | [[Cupronickel]]: {{small|Cu: 75% Ni: 25%}}
| Smooth
| Honeycomb; value
| [[Lily of the valley]]; year of issue; Lettering: ''Suomi Finland''
| rowspan=2 | 1990–2001
| rowspan=6 | 2012
|-
| align=center | [[File:Монета Фінляндії 50 пенні 1990.png|frameless|115x115px]]
| 50 p
| align=center | 19.70
| align=center | 3.30
| style="background-color:#dcdcdc;"|
| Reeded
| Moss; value
| [[Brown bear]]; year of issue; Lettering: ''Suomi Finland''
|-
| align=center | [[File:1 finnish markka O & R.jpg|115x115px]]
| 1 mk
| align=center | 22.25
| align=center | 5.00
| style="background-color:#ffe550;"|
| rowspan=2 | [[Copper]]: 81% [[Zinc]]: 10% [[Nickel]]: 9%
| Smooth
| Ornamentation; value
| [[Coat of arms of Finland|Coat of arms]]; year of issue; Lettering: ''Suomi Finland''
| 1993–2001
|-
| align=center |
| 5 mk
| align=center | 24.50
| align=center | 5.50
| style="background-color:#ffe550;"|
| Lettering: {{small|SUOMI FINLAND * SUOMI FINLAND *}}
| [[Nymphaea alba|White waterlily]]; value
| [[Saimaa ringed seal]]; year of issue; Lettering: ''Suomi Finland''
| 1992–2001
|-
| rowspan=2 align=center | [[File:Obverse of the 10 finnish markka.jpg|150x150px]] [[File:10 finnish markka reverse.jpg|150x150px]]
| rowspan=2 | 10 mk
| rowspan=2 align=center | 27.25
| rowspan=2 align=center | 8.80
| style="background-color:#dcdcdc;"|
| Outer: [[Cupronickel]]: {{small|Cu: 75%; Ni: 25%}}
| rowspan=2 | Smooth
| rowspan=2 | [[Sorbus aucuparia|Rowan]]; value
| rowspan=2 | [[Western capercaillie|Capercaillie]]; year of issue; Lettering: ''Suomi Finland''
| rowspan=2 | 1993–2001
|-
| style="background-color:#ffe550;"|
| Inner: [[Aluminium bronze]]: {{small|Cu: 92%; Al: 6%; Ni: 2%}}
|-
| colspan=11 | {{Standard coin table notice|BrE=Y}}
|}

== Banknotes ==
This section covers the last design series of the Finnish markka, designed in the 1980s by {{ill|Torsten Ekström|fi}} and Finnish designer [[Erik Bruun]] and issued in 1986.<ref>{{cite web |url=http://www.bis-ans-ende-der-welt.net/Finnland-B-En.htm |title=Historical banknotes from Finland |author=Heiko, Otto |access-date=28 December 2019}}</ref>
{|class="wikitable" style="margin:auto; font-size:90%; border-width:1px;"
! colspan=12 | Last series (1986–1993) {{small|Designers: [[:fi:Torsten Ekström|Torsten Ekström]] (obverse) and [[Erik Bruun]] (reverse)}}
|-
! colspan=2 | Image
! rowspan=2 | Value
! rowspan=2 | Euro {{abbr|equi.|equivalent}}
! rowspan=2 | Dimensions (mm)
! rowspan=2 colspan=2 | Main colour
! colspan=2 | Description
! rowspan=2 | Issued from
! rowspan=2 | First issued
! rowspan=2 | Lapse
|-
! Obverse
! Reverse
! Obverse
! Reverse
|-
| style="background:#000; text-align:center;" | [[File:FIN-10m-anv.jpg|80px]]
| style="background:#000; text-align:center;" | [[File:FIN-10m-rev.jpg|80px]]
| 10 mk
| align=center | €1.68
| rowspan=12 align=center | 142 × 69
| style="background:#80C0FF;"|
| Blue
| [[Paavo Nurmi]]
| [[Helsinki Olympic Stadium|Helsinki Olympic Stadium]]
| 1986–1991
| 1987
| rowspan=11 | 2012
|-
| rowspan=2 style="background:#000; text-align:center;" | [[File:FIN-20m-anv.jpg|80px]]
| rowspan=2 style="background:#000; text-align:center;" | [[File:FIN-20m-rev.jpg|80px]]
| rowspan=2 | 20 mk
| rowspan=2 align=center | €3.36
| style="background:#80A0C0;"|
| rowspan=2 | Blue yellow
| rowspan=2 | [[Väinö Linna]]
| rowspan=2 | [[Tammerkoski]]
| 1993–1996
| 1993
|-
| style="background:#FFE080;"|
| 1996–1999
| 1997
|-
| rowspan=2 style="background:#000; text-align:center;" | [[File:FIN-50m-anv.jpg|80px]]
| rowspan=2 style="background:#000; text-align:center;" | [[File:FIN-50m-rev.jpg|80px]]
| rowspan=2 | 50 mk
| rowspan=2 align=center | €8.41
| rowspan=2 style="background:#C0A080;"|
| rowspan=2 | Brown
| rowspan=2 | [[Alvar Aalto]]
| rowspan=2 | [[Finlandia Hall]]
| 1985–1990
| 1986
|-
| 1991–1999
| 1991
|-
| rowspan=2 style="background:#000; text-align:center;" | [[File:FIN-100m-anv.jpg|80px]]
| rowspan=2 style="background:#000; text-align:center;" | [[File:FIN-100m-rev.jpg|80px]]
| rowspan=2 | 100 mk
| rowspan=2 align=center | €16.82
| rowspan=2 style="background:#80C080;"|
| rowspan=2 | Green
| rowspan=2 | [[Jean Sibelius]]
| rowspan=2 | [[Whooper swan]]s
| 1985–1990
| 1986
|-
| 1991–1998
| 1991
|-
| rowspan=2 style="background:#000; text-align:center;" | [[File:FIN-500m-anv.jpg|80px]]
| rowspan=2 style="background:#000; text-align:center;" | [[File:FIN-500m-rev.jpg|80px]]
| rowspan=2 | 500 mk
| rowspan=2 align=center | €84.09
| rowspan=2 style="background:#FF8080;"|
| rowspan=2 | Red
| rowspan=2 | [[Elias Lönnrot]]
| rowspan=2 | Forest hiking trail
| colspan="2" | 1987
|-
| 1991–1993
| 1991
|-
| rowspan=2 style="background:#000; text-align:center;" | [[File:FIN-1000m-anv.jpg|80px]]
| rowspan=2 style="background:#000; text-align:center;" | [[File:FIN-1000m-rev.jpg|80px]]
| rowspan=2 | 1000 mk
| rowspan=2 align=center | €168.19
| rowspan=2 style="background:#80E0E0;"|
| rowspan=2 | Turquoise
| rowspan=2 | [[Anders Chydenius]]
| rowspan=2 | [[Kuninkaanportti]]
| colspan="2" | 1986
|-
| 1991–1993
| 1991
|-
| colspan=2 style="background:#000; text-align:center;" | <ref>{{cite web | url=https://www.suomenpankki.fi/en/media-and-publications/releases/2012/book-launch-of-the-last-markka-banknotes-and-a-new-exhibition-at-the-bank-of-finland-museum/ | title=Book launch of 'The last markka banknotes' and a new exhibition at the Bank of Finland Museum }}</ref><ref>{{cite web | url=https://poistyopoydalta.blogspot.com/2012/01/5000-markan-seteli.html | title=Pois työpöydältä: 5000 markan seteli | year=2012 }}</ref>
| 5000 mk
| align=center | €840.94
| style="background:#FF80C0;"|
| Pink
| [[Mikael Agricola]]
| [[Turku Cathedral]]
| colspan=3 align=center | ''Not introduced''{{efn|Note intended to be introduced only as an inflationary backup.<ref>Kaartamo, Outi: ''Raha on kaunista''. ''[[Helsingin Sanomat]]'' monthly supplement, April 2010, pp. 83–88.</ref>}}
|-
| colspan=12 | {{Standard banknote table notice|AmE=Y}}
|}
{{notelist}}

In this final banknote series, the Bank of Finland used a photograph of Väinö Linna on the 20 mk note without permission from copyright holders. This was only revealed after several million notes were in use. The Bank paid 100,000 mk (€17,000) compensation to the rights holders.<ref>{{cite news | first=Teemu | last=Luukka | title=Suomen Pankki maksoi korvauksia valokuvasta 17 000 euroa | url=http://www.hs.fi/kulttuuri/artikkeli/Suomen+Pankki+maksoi+korvauksia+valokuvasta+100%C2%A0000+markkaa/1135221929135 | publisher=HS | date=2006-09-27 | access-date=2006-10-02 | language=fi }}</ref>

[[File:FIN-500m-1975-anv.jpg|thumb| [[Urho Kekkonen]] on the 500 mk note from 1975]]

The second-to-last banknote design series, designed by [[Tapio Wirkkala]], was introduced in 1955 and revised in the reform of 1963. It was the first series to depict actual specific persons rather than allegorical figures. These included [[Juho Kusti Paasikivi]] on the 10 mk, [[Kaarlo Juho Ståhlberg|K. J. Ståhlberg]] on the 50 mk, [[Johan Vilhelm Snellman|J. V. Snellman]] on the 100 mk and, controversially, [[Urho Kekkonen]] on the 500 mk, added in 1975 to commemorate the president's 75th birthday.<ref>{{cite web | url=http://yle.fi/uutiset/osasto/news/finlands_most_beautiful_banknote_chosen/5335620 | title=Finland's Most Beautiful Banknote Chosen | date=April 2011 }}</ref> Unlike Erik Bruun's series, this series did not depict any other real-life subjects, but only abstract ornaments in addition to the depictions of people. A popular joke at the time was to cover Paasikivi's face except for his ear and back of the head on the 10 mk note, ending up with something resembling a mouse, said to be the only animal illustration in the entire series.{{citation needed|date=January 2020}}

The still-older notes, designed by [[Eliel Saarinen]], were introduced in 1922. They also depicted people, but these were generic men and women, and did not represent any specific individuals. The fact that these men and women were depicted nude caused a minor controversy at the time.<ref>[https://www.suomenpankki.fi/en/money-and-payments/the-markka2/historical-finnish-banknotes-and-coins/ Historical Finnish banknotes and coins] {{Webarchive|url=https://web.archive.org/web/20201112043132/https://www.suomenpankki.fi/en/money-and-payments/the-markka2/historical-finnish-banknotes-and-coins/ |date=12 November 2020 }}, Bank of Finland. Accessed on 20 December 2020.</ref>

==Finnish Markka commemorative coins (collectors' coins)==
{{main|Commemorative coin}}
<gallery>
File:Finnland- 1971 - Münzkabinett, Berlin - 5483741.jpg|10mk [[1971 European Athletics Championships|X European Athletics Championships]] (1971)
File:10 Markkaa President Kekkonen 1975.png|10mk President [[Urho Kekkonen]] (1975)
File:100 markkaa (Suomen tasavalta) - juhlaraha Riemuvuosi 2000.jpg|100mk Joy of the year (2000)
</gallery>

== Euro banknotes ==
By the end of 2001, Finland was a relatively [[cashless society]]. Most transactions were paid either using the 100 mk banknote or by debit card. There were 4 million banknotes apiece of the 500 mk and 1,000 mk denomination banknotes for a country with a population of over 5 million people. There were about 19 banknotes per individual of the smaller denomination, adding up to €241 per inhabitant. For the introduction of the euro, ECB produced €8,020 million in banknotes before the changeover.{{citation needed|date=January 2020}}

During the first weeks of 2002, Finland's replacement of previous national banknotes with euro banknotes was among the fastest in the euro area. Of the cash payments, three-fourths were paid in euro already at the end of the first changeover week.<ref>{{cite news |url=https://helda.helsinki.fi/bof/bitstream/handle/123456789/7330/144593.pdf?sequence=1&isAllowed=y#page=31 |title=Bank of Finland Annual Report 2002 | access-date=2019-09-07 |page=29 | language=en }}</ref> Coins and banknotes that were legal tender at the time of the markka's retirement could be exchanged for euros until 29 February 2012. Today, the only value that markka coins and banknotes have is their value as collectibles.

== See also ==
* [[Bank of Finland]]
* ''[[Scandinavian Monetary Union]]''
* [[Finnish euro coins]]
* [[Economy of Finland]]
* [[History of money in Finland]]

==References==
{{Reflist}}

==External links==
{{Commons category}}
* [http://news.bbc.co.uk/hi/english/static/in_depth/business/2001/euro_cash/spent_currencies/markka.stm Overview of markka from the BBC]
* [https://www.suomenpankki.fi/en/money-and-payments/the-markka2/historical-finnish-banknotes-and-coins/ Historical Finnish banknotes and coins]{{Dead link|date=August 2025 |bot=InternetArchiveBot |fix-attempted=yes }} at the Bank of Finland
* [https://finland.fi/life-society/main-outlines-of-finnish-history/ Main outlines of Finnish history – thisisFINLAND]
* [https://web.archive.org/web/20080220122229/http://www.htk.fi/public/hauhoya/comedia/history/finland.htm History of the Finnish Markka (1860–2002)]
* [https://www.bis-ans-ende-der-welt.net/Finnland-B-En.htm Historical banknotes from Finland] {{in lang|en|de}}

{{s-start}}
{{s-bef|before=[[Russian ruble]]}}
{{s-ttl|title=[[Finland|Finnish]] currency|years=1860–2002}}
{{s-aft|after=[[euro]]}}
{{s-end}}

{{Mark}}
{{Euro topics}}
{{Finland topics}}
{{Portal bar|Europe|Finland|Money|Numismatics}}
{{Authority control}}

{{DEFAULTSORT:Finnish Markka}}
[[Category:Currencies of Finland|Markka]]
[[Category:Modern obsolete currencies]]
[[Category:Currencies replaced by the euro]]
[[Category:1860 establishments in Finland|Markka]]
[[Category:2001 disestablishments in Finland|Markka]]
[[Category:Currencies introduced in 1860]]