markka

The markka (Finnish: markka; Swedish: mark) was the currency of Finland from 1860 to 2002. It was subdivided into 100 penniä and issued by the Bank of Finland. The name markka derives from a Germanic root meaning “mark” or “coin.” The markka superseded the Russian ruble during Finland’s period as a Grand Duchy, and remained the currency after independence in 1917.

In the 19th and 20th centuries, the markka underwent currency reforms, moving toward decimal accounting and adopting modern banknotes and coins. The Bank of Finland issued coins in penniä and markka denominations and banknotes featuring Finnish themes and prominent individuals.

From the late 1990s, Finland prepared for European monetary integration. The markka remained the national currency as the euro was introduced as an accounting currency in 1999, with cash replacing markka in 2002. The fixed exchange rate was 1 euro = 5.94573 markkaa.

Today the markka is a historical currency and a symbol of Finland’s pre-euro era. It is of interest to collectors and historians. The ISO currency code was FIM.