End of February deadline for markka conversion into euro

Releases Press release number 8 Wednesday 22 February 2012, 11:00 AM
Finnish markka banknotes and coins can be converted into euro until 29 February 2012. We recommend that you turn to your own bank first, if wanting to convert markka to euro. Banks accept markka from their regular customers, at their own discretion. The foreign exchange bureau Forex is another place to turn to for conversion of markka into euro.
 
Markka banknotes and coins can also be returned to the Bank of Finland by post as insured items according to the post’s instructions. The sender is responsible for postage. The sender’s name, contact information and bank account number must also be included. The last day of dispatch is 29 February 2012 (date of postmark). The address is: BANK OF FINLAND, Customer Service Office, PO Box 160, 00101 Helsinki. The euro amount will be credited to the sender’s bank account.
 
The Bank of Finland has one Customer Service Office, where you can present markka notes and coins for conversion into euro. The Customer Service Office is located in Helsinki, at Rauhankatu 19, and it is open on weekdays from 10 am to 15 pm. The Bank of Finland’s regional offices do not have Customer Service Offices.
 
The Bank of Finland’s duty of redemption applies to all markka banknotes issued in or after 1945, and coins included in the last markka coin series before the changeover to euro. Commemorative coins issued in or after 1989 also qualify for redemption.
 
Further information and pictures of the markka banknotes and coins that qualify for redemption are available on the Bank of Finland’s website at
http://www.suomenpankki.fi/en/setelit_ja_kolikot/markkojen_vaihtaminen_euroiksi/Pages/default.aspx
 
Please note that the Bank of Finland redeems markka banknotes and coins at nominal value. Redeemable markka banknotes and coins may have sentimental or numismatic value that exceeds their nominal value.
 
The value of redeemable markka banknotes and coins still in circulation totals approximately FIM 1.66 billion, of which approximately FIM 740 million is in banknotes and approximately FIM 590 million in coins, and approximately FIM 330 million in commemorative coins.
 
After the duty of redemption regarding markka banknotes and coins expires, the Bank of Finland’s Customer Service Office in Helsinki will be closed.

For further information, please contact Kenneth Sainio, Senior Adviser, tel. +358 10 831 3463.