seteleihin

Seteleihin is a Finnish term that translates to "banknotes" or "bills" in English. It refers to paper money issued by a country's central bank. In Finland, prior to the adoption of the euro, the national currency was the Finnish markka, and its banknotes were known as seteleihin. These banknotes featured various denominations and designs, often incorporating national symbols and prominent Finnish figures.

The concept of banknotes as a form of currency emerged as a more convenient alternative to heavy and cumbersome coins. Historically, banknotes were often backed by precious metals, such as gold or silver, held by the issuing institution. Over time, most countries moved to a fiat currency system, where the value of banknotes is determined by government decree and public trust, rather than being directly convertible into a commodity.

The use of seteleihin in Finland continued until January 1, 2002, when the euro was introduced as the official currency. While physical markka banknotes and coins could be exchanged for euros for a period, they are no longer legal tender in Finland. Today, the term seteleihin is primarily used in a historical context when discussing the Finnish markka era. The Finnish central bank, Suomen Pankki, was responsible for the printing and distribution of these banknotes.