€2 Finland 2011 - 200 Years Bank of Finland



The €2 commemorative coin for Finland 2011 seems that it will be dedicated to the 200th years since the foundation of the bank of Finland. The bank is also holding an exhibition with the title "Three currencies, two centuries, one Bank of Finland".

The Bank of Finland was founded in 1811 specifically to oversee the changing of the currency used in Finland at that time, from Swedish riksdaler to Russian rouble.


1811: from riksdalers to roubles
When Finland became a semi-autonomous Grand Duchy of the Russian empire the rouble became legal tender also in Finland.

1840–42: from ‘bank roubles’ to silver roubles
As Russia and Finland introduced the silver standard the old paper-backed banknotes were exchanged into notes redeemable with silver. The last Swedish money circulating in Finland was withdrawn.

1860: from rouble to markka
Finland gained its own currency unit, markka, after the value of the Russian rouble had collapsed as an aftermath of the Crimean War.

1946: the ‘clipping’ of banknotes
Inflation had become exceedingly high during the war and the government tried to curb it by cutting the large-denomination banknotes in half.

1963: cutting the zeros
The unnecessarily large denominations were reduced by cutting two zeros off.

1999 and 2002: from markka to euro.
The euro area was established in 1999. Euro banknotes and coins were put into circulation in 2002.




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