markkaus

The markkaus, also known as the Finnish markka, was the currency of Finland from 1860 until 2002. It was introduced by the Finnish Senate to replace the Russian ruble. The markkaus was subdivided into 100 penniä. Its currency code was FIM, and the symbol was Mk. The markkaus was pegged to the ECU (European Currency Unit) in 1991 and then to the euro at a fixed rate before its eventual replacement.

The design of the Finnish markkaus banknotes and coins varied over its history, often featuring prominent Finnish figures, historical events, and national symbols. Coins were issued in denominations of 1, 5, 10, 50 penniä, and 1, 5, 10 markkaa. Banknotes were in denominations such as 10, 20, 50, 100, 500, and 1000 markkaa. The markkaus played a significant role in Finland's economic development and national identity for over a century.

On January 1, 1999, the euro was introduced as the official currency of Finland, though the markkaus remained in circulation as a subsidiary currency until January 1, 2002. At that point, all cash transactions were conducted in euros, and the markkaus ceased to be legal tender. Exchange of the old markkaus for euros was possible at the Bank of Finland for a specified period.