What is the currency in Finland? National currency of Finland What is the currency in Finland now

The modern state currency of Finland is called the euro and is common to most countries in the Eurozone. However, until relatively recently, in the territory of this small republic located in northern Europe, the Finnish mark was used as a means of payment.

Description

Many Russians do not know what the currency is in Finland today, since it switched to the pan-European monetary unit not so long ago, in 2002. Externally, the Finnish euro is practically no different from the euro used in the territory of another state in the EU.

Much more interesting is the old monetary unit of the state, which was called the Finnish mark. It was divided into 100 pennies, and its letter code for designation on the international financial market looked like FIM.

History of the currency of Finland

In the Middle Ages, when the territory of the country belonged to Sweden, Swedish riksdalers were used here. Since the beginning of the 18th century, when the Russian Empire began to lay claim to this territory, the money of Sweden and Russia has been in circulation on equal terms.

This situation existed until 1809, when Finland finally became part of the Russian Empire. Since then, the Finns began to use only rubles. However, in 1860, by decision of the emperor, Finland's own national currency was created - the mark.

This monetary unit remained even after gaining sovereignty at the beginning of the 20th century. However, various reforms were adopted and the currency was modified.

Transition to the euro

The decision of the EU members to switch to a common currency was made on January 1, 1999. On January 1, 2002, the replacement of Finnish marks with euros began. In Finland, the exchange rate at which the exchange took place was 1 EUR to 5.94573 FIM.

For two months, marks and euros were used in parallel throughout the country. From March 1, the euro became the only legal tender. Stamps could be exchanged in banks until 2012.

Rate

If we talk about the modern payment unit euro, then the exchange rate is known to almost everyone who follows the news. As of July 2018, the approximate value of the Finnish currency at the exchange rate to the ruble is 1:73. Accordingly, for one ruble you can get only 0.014 euros.

But few people know how much the Finnish mark was worth in relation to the ruble or other currencies of the world. As of December 28, 2001, the rate at which the Central Bank of the Russian Federation valued FIM was approximately 4.45:1. That is, for one stamp you could get almost 4 and a half rubles. Accordingly, for one ruble they gave about 0.22 marks.

Today, the Finnish mark is no longer used, so it is extremely difficult to predict how much it would cost in relation to the ruble.

Exchange operations

Finland is one of the most highly developed countries in the world with a powerful economy and a high standard of living. Many tourists come here from all over the world, so exchanging money is not difficult. A big plus for Russians is that many financial institutions exchange rubles for euros without any problems. This is due to the huge number of tourists from the Leningrad region and Karelia, who come to the country in thousands for vacation and shopping.

However, it is much easier, more convenient and more profitable to exchange rubles for euros in Russia in advance. Conversion occurs at a more favorable rate than in Finland.

You can also exchange dollars without difficulty, but there may be problems with other currencies.

Cashless payments

Electronic currency in Finland is accepted almost everywhere: in restaurants, cafes, bars, hotels, supermarkets and boutiques, as well as in taxis, public transport, etc. Therefore, there will be no problems with paying for a purchase or service using a bank card.

If necessary, you can easily withdraw money from ATMs, which are located literally at every step. Although a commission for withdrawals from foreign cards is charged, it is, as a rule, not too large.

Payment through contactless apps like Apple Pay or Andriod Pay is also accepted almost everywhere. Moreover, this method is becoming more and more popular every year.

Conclusion

Finland is a modern European state that stands out in terms of its level of development, even compared to many other European countries. There is a rich culture and history here, but most of all tourists are attracted by the beautiful nature and excellent conditions for a shopping tour.

People also often come to Finland to earn money or get higher education. The level of wages in the country is higher than in many European countries, and averages 2-2.5 thousand euros per month. The Finnish educational system is considered one of the most progressive and effective in the world, so many people strive to get a diploma here.

Thanks to the large influx of foreigners into the country, interest in it is growing very quickly. The use of a common European currency in Finland makes visiting it much easier for foreigners who do not need to study the financial system or search for exchange offices.

Before going to Finland, you should definitely find out what currency is used in this country, and also inquire about the rules of operation of ATMs and the specifics of conducting non-cash transactions. This will help you avoid awkward situations and pay for goods or services without any problems. In addition, you need to know where else in Europe Finnish currency can be used.

History of Finnish money

Throughout the formation of the financial system of the Finnish state, several different currencies were used. Their choice was often determined by who would take over and control Finnish territories.

Thus, Swedish riksdalers (namely they, and not Swedish crowns, which were introduced into circulation only in 1873) were in use in Finland in the Middle Ages, when the country was part of Sweden. During the Russian-Swedish wars of the 18th century, Swedish riksdalers and Russian rubles were simultaneously in circulation on the territory of the state. And after Finland joined Russia in 1809, Russian rubles became the main currency.

In 1860, Emperor Alexander II introduced the Finnish mark as an independent currency of the Grand Duchy of Finland. The name of the new currency was invented by Elias Lönnrot, a collector of the Kalevala. It is interesting that the German mark appeared only 10 years after the introduction of the Finnish one.

In 1946, the design and system of protecting the currency in Finland changed, and in 1963 its redenomination was carried out. At the same time, 100 old Finnish marks were exchanged for one new one.

Since March 1, 2002, the euro has become the only legal tender in Finland. Banknotes are available in standard denominations: 5, 10, 20, 50, 100, 200, 500 €. Coins: 1, 2, 5, 10, 20 and 50 euro cents, 1 and 2 €.

Finland's transition to the euro

The Republic of Finland joined the European Union on January 1, 1995, and the decision to switch to a common European currency was made on January 1, 1999.

The abandonment of its own national currency brought a lot of positive things for the state:

reducing risks associated with exchange rates of various currencies;
simplification of settlements with European partners;
increasing the field for investment;
eliminating costs associated with conversion operations;
reducing the difference in prices for the same goods within the country and abroad.

The process of exchanging Finnish marks for euros began on January 1, 2002. At that time, the national currency of Finland was changing at the rate of 1 EUR to 5.94573 FIM.

And although euro banknotes and coins were put into circulation on January 1, 2002, payments in Finnish marks in the country were possible for another two months. At the same time, everyone could exchange their remaining Finnish marks for euros for free until 2012.

What currency to take with you when going to Finland

There are no restrictions or prohibitions on the import of any foreign currency into Finland. However, it is prohibited to transport more than 10,000 € without a declaration.

The best solution would be to exchange Russian rubles, American dollars or other currencies for euros in advance. This will help:

reduce the time spent searching for a profitable exchange office and the exchange itself;
plan your expenses in euros in advance;
avoid additional costs associated with cash withdrawals;
prevent financial losses associated with unfavorable exchange rate changes.

In the border areas of south-eastern Finland there are retail outlets that accept Russian rubles. In the Finnish capital, this is done by the Stockmann shopping center, as well as the Prisma hypermarket in Lappeenranta. However, recalculation at the exchange rate is not very profitable - the difference is up to 10 rubles per 1 euro.

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Where is the best place to exchange currency in Finland?

If you did not manage to exchange your existing currency for euros in advance, you will have the opportunity to do this in Finland. If you need euros urgently, you should pay attention to border exchange offices:

Svetogorsk - a Sberbank branch can be found on the way to the customs checkpoint. There is also a branch of VTB Bank in the city.
Torfyanovka – there is a Vaalimaa exchange office.
Brusnichnoe – Nujamaa currency exchange office is located here.
Imatra – immediately after crossing the border you can change money at a special exchange kiosk. In addition, there are several bank branches that you can contact from Monday to Friday from 09.15 to 16.15.
Lappeenranta. You can change money at the Safar exchange office in the city center. Opening hours: weekdays – 09.30-17.00, Saturday – 09.30-14.00, Sunday – 12.00-14.00.
Kotka – exchange can be made at one of the many bank branches. One of them is conveniently located next to the Pasaati shopping center in the city center.

In Helsinki, the Forex exchange office operates on: weekdays - 08.00-20.00, Saturday - 09.00-19.00, Sunday - 09.30-17.00.

Peculiarities of ATM operation and non-cash payments in Finland

Cashless payment is something that is available to all tourists in Finland. Plastic cards are accepted by almost all establishments. They are no less popular than classic paper banknotes and coins.

Payment for services and goods using electronic money/payment systems is not widespread in Finland. The most acceptable option is the international payment system PayPal.

In addition, the Uniqul payment system began operating in test mode, using the user’s face rather than a card to identify the payer. The system stores information about participants’ bank cards and withdraws funds from them to pay for goods and services.

Most restaurants, cafes and shops allow contactless payments through Apple Pay and Android Pay.

Throughout Finland, plastic cards of international payment systems are accepted for payment: Visa, MasterCard, Diners Club and American Express. Experts recommend taking MasterCard with you for use during your trip. Its base currency is the euro. Thus, paying with a card of this particular payment system will help avoid overpayment for conversion.

When paying with a card, you should check how much the commission was charged. In particular, the conversion fee is often removed the next day after the transaction is completed. Moreover, as a result of changes in the exchange rate, it may not be the amount you expected. This happens due to a delay in clearing (non-cash settlement process) between banks.

Many Russians are interested in whether it is possible to pay with a Sberbank card in Finland. Yes, if it is a card belonging to one of the international payment systems.

And some more useful tips for those who decide to go abroad and pay there with a plastic bank card:

notify your bank about your trip to avoid sudden card blocking;
make sure that your card does not have restrictions on use in other countries;
it is more profitable to open a foreign currency account and link a card to it than to use a credit card in foreign or local currency;
distribute funds among several cards so that if you lose one, you will not be left abroad without funds;
insure your savings in case of compromise of a means of payment, which could lead to loss of finances.

ATM withdrawals are another way to get cash in the currency you need while in the country. It is convenient to use the terminals, since the machines located on the streets operate daily and around the clock. Customer service is provided in Finnish, Swedish and English.

Withdrawing money from ATMs is always a paid operation. Using debit and credit cards, you will spend an additional 2-3% of the transaction amount.

Don't forget that your bank will also charge a fee for using a third-party ATM. The total amount of overpayment for cash withdrawals from Finnish ATMs is reported before the transaction is confirmed. If you are not satisfied with it, the transaction can be cancelled.

As for specific terminals, the most popular ATM network in Helsinki is Otto.

Use of traveler's checks

The main advantage of traveler's checks is the protection of your funds in case of loss of the document itself. Large Russian banks handle this type of paperwork. Each check is precisely a document. The most common are traveler's checks from payment systems such as Visa, American Express, Thomas Cook, City Corp, Bank of America and MasterCard.

When crossing the border with Finland, you must indicate traveler's checks in the declaration. If the papers are lost, it is enough to contact the bank that services this type of payment documents, give the numbers of the lost traveler's checks, answer a few questions regarding their execution and receive cash in your hands.

Finally

Since 2002, the official currency of Finland is the euro. The previous local currency, the Finnish mark, went out of use on March 1, 2002.

There are many banks, exchange offices, and ATMs throughout the country. The most common non-cash payment is with bank plastic cards. Electronic and contactless payment systems are less common.

When planning a trip to Finland, you can make exchange transactions at the border, make an exchange in Imatra and other border Finnish cities, as well as directly in Helsinki.

It should be borne in mind that the least favorable rate is offered in hotels, terminals on central streets and expensive stores.

When withdrawing cash from ATMs, you should be prepared to pay a considerable commission from both a third-party and your own bank. Of all plastic cards, preference should be given to MasterCard, since its main monetary unit is the euro. In addition, when traveling abroad, you should notify your bank about your upcoming trip and find out whether your card will be valid in Finland.

All traveler's checks and cash over €10,000 must be declared.

6 MAIN ADVANTAGES of living in Finland: Video

The national currency in Finland is Euro.

The most logical and convenient way is to come to Helsinki with euros already exchanged in Russia. If you need to change money, this can be done at Forex exchange office.

There are several such exchangers in the city:

- opposite the train station, next to the metro station (Mon-Fri 8:00-20:00, Sat 9:00-19:00, Sun-09:30-17:00)

On Mikonkatu 11, next to the Athenaeum Museum (Mon-Fri 09:00-19:00, Sat 10:30-16:00, Sun - closed)

-Shopping center “Itis”, in the Pasaasi section(Mon-Fri 09:00-20:00, Sat 9:30-17:00, Sun - closed. After six months, this exchanger changes location)

On Aleksanterinkatu 52, next to the Stockmann shopping center (Mon-Fri 09:00-21:00, Sat 9:00-18:00, Sun-12:00-18:00)

-"Stockmann Itis"(Itäkatu 1b, 1st floor. Mon-Fri 09:00-21:00, Sat 9:00-18:00, Sun-12:00-18:00)

Forex is one of the most popular banks in Scandinavia. They exchange more than 80 currencies at the optimal rate with a minimum commission. If you want to exchange euros for rubles after your trip, do not lose your receipt, and then the return exchange will be made without commission.

There are other exchange offices, for example, Tavex Oy at Fabianinkatu 12, next to Esplanadi Park (Mon-Fri 09:00-18:00, Sat 10:00-16:00, closed Sunday) and at the railway station (Mon-Fri 10:00-18: 00, Sat and Sun - days off).

You can exchange money in hotels, but I would not recommend doing this to avoid losing money due to a very unfavorable exchange rate. Not always a good rate in banks. By the way, many banks in Finland are closed on weekends, and on weekdays they are open until 4-5 pm.

If you need to withdraw money, look for Otto ATMs. Service in such machines is in English, but, unfortunately, not in Russian yet.

Accepts these cards:

ATMs dispense bills from 5 to 500 euros. When you withdraw money, of course, there is a fee (if I'm not mistaken, about 3 euros regardless of the withdrawal amount, plus 1 or 2% of the amount). It turns out that it’s not very economical to withdraw money every time. So, stock up on cash in advance, or pay by card if possible (fortunately, there are no problems with this in Helsinki, cards are accepted everywhere). Such ATMs can be found at Teollisuuskatu 21, next to the Porvoonkadun Baari bar.

More about prices. Helsinki is not a particularly cheap city. In the cheapest cafes you can spend up to 10 euros, but in the rest you will have to fork out a lot. The fare is also not cheap - 2.5 euros, so I advise you to purchase day passes to save money. The cheapest accommodation option is a hostel, from 20 euros per bed in a shared room, and private rooms are much more expensive. But shopping in Helsinki is excellent, and prices are sometimes cheaper, plus there are sales. That’s why so many Russians go there to buy quality clothes and shoes. Food prices are, in principle, tolerable, but they cannot be called low. For example, a loaf of bread costs from one and a half euros, a liter of milk costs almost a euro, beer costs from half a euro and more (there are decent and inexpensive brands.
This is probably why Finns love beer so much!). As for cultural sites, many museums and galleries have free days or hours of admission, and some are completely free (but this is a rare case). Discounts are also given to students, pensioners and military personnel. What I mean is that you can always save money. But still, stock up on funds if you are planning a trip to Helsinki!

Finland is one of many countries included in the so-called eurozone thanks to the international campaign for European integration. Just like other 10 EU countries, Finland replaced its national currency with the euro, thereby improving economic interaction with EU member countries. Today, exchange rates for world currencies into euros in the country are set by an international bank. However, this was not always the case, and at one time the Finns had their own currency, and Finnish money also went through a certain historical path of development.

Finnish mark: to the origins of coinage

The development of coinage in Finland can be divided into 3 periods:

Finland, as part of Sweden;
Finland, as part of Russia;
Independent Finland.

During the period of dependence on Sweden, the main currency used in the Finnish markets was the Swedish riskdaler. Later, with the course of Russian-Swedish military clashes, the Russian ruble came into use. Only in 1860 did the Grand Duchy of Finland acquire its own currency, which was called the mark.
Interestingly, Finnish stamps became the prototype of a similar monetary unit in Germany, having appeared earlier on the territory of modern Europe. Until the outbreak of the First World War, which turned the world economy upside down, there was a Gold Standard in Finland, according to which all coins contained 0.3 g of real pure gold.

Finland's transition from marks to the euro

In 2002, as part of the European integration procedure, Finland abandoned marks and recognized the euro as a new currency at the state level.
The peculiarity of using this monetary unit is that the common side for all EU countries is the reverse, on which the denomination is indicated, but the obverse shows the obverse side, which is specific to each country. Finland's money has its face on flying swans, the basis for which was a special coin issued in honor of the country's 80-year independence.

Currency exchange in Finland

The most common dollars can be exchanged for euros both at the airport, hotels and even on ferries. There are exchange offices such as Forex and Tvex on the territory of the country, which work full time. But the most reliable way to exchange any currency for euros remains official bank branches, which provide a stable rate and reliable payment.
When exchanging currency in Finland, some branches require the presentation of a passport, but there are also places where documents are not required. The country also has a system of non-cash payment for services and goods using credit cards.
Regarding the import of currency into Finland or outside the country, the legislation does not specify any restrictions.

was a Finnish brand (FIM, digital code 246, code according to ISO 4217), introduced, by the way, by decree of the Russian Emperor Alexander II in 1860. Name of the new currency ( brand - fin. Suomen Markka) was proposed by Elias Lönnrot ( Finnish Elias Lönnrot).

Before the transition to the euro, one Finnish mark was equal to 100 pennies.

Currently, as in all countries that are part of the eurozone, the official currency in Finland is the euro (EUR or €). In circulation are banknotes of seven denominations of 5, 10, 20, 50, 100, 200 and 500 EUR, as well as coins of 1 and 2 EUR and 1, 2, 5, 10, 20 and 50 EUR CENT (eight denominations). Each coin has a common side (the denomination is indicated) and a national side, which indicates the issuing country. The euro is legal tender in 17 eurozone countries.

To clarify the term "national side". Below is a 1 euro coin issued in Finland and Germany

Note: if suddenly, while sorting out grandma's chest, Finnish stamps are discovered completely by accident, then until February 29, 2012 you can still exchange them for euros at the Bank of Finland (at the time of the transition to European currency, the conversion of Finnish marks to euros was carried out in the ratio 1EUR = 5.94573 FIM, this rate is fixed and will not change). The central bank branch of the Bank of Finland in Helsinki is located at Snellmaninaukio, 00170 Helsinki. Tel.: +358-9-1831. Opening hours: from 09-30 to 15-30.

According to data at the end of 2011, zealous Finns had Finnish marks worth more than 1.5 billion euros in their hands.

Update from March 01, 2012So the above The deadline for exchanging the Finnish mark for the euro has expired. If anyone doesn’t remember Finnish stamps (or who didn’t see them at all), let’s look at the photo below)))

Reminder for tourists. It is often written that upon entering Finland you can inquire about the availability of currency (at the rate of 40 EUR per person per day). In this case, I can’t comment on anything, because... I personally have never been interested)))

Credit cards

Payment credit cards quite widespread. Credit cards of the world's leading payment systems are accepted for payment: Visa, Visa Electron, MasterCard, Maestro, etc. I paid with a credit card very often, both in stores and in small cafes.

Currency exchange in Finland

You can exchange currency:

at exchange offices at airports, train stations, marinas, post offices (open seven days a week)
at exchange offices Forex Bank

On the main page of the site Forex you will find currency exchange rates and addresses of exchange offices. IN Helsinki three exchange offices Forex: in the railway station building (opening hours: Mon-Fri from 08-00 to 21-00, Sat from 09-00 to 19-00 and Sun from 09-00 to 19-00), on the main street of the city (Pohjoisesplanadi 27 ) and at the Itakeskus shopping center (at Itakatu 1-3).

in banks (opening hours Mon-Fri: from 09-15 to 16-15. On Saturday, Sunday and holidays all banks are closed).

ATMs are indicated by the symbol "OTTO" and accept Visa, MasterCard, Maestro, Eurocard, Cirrus, EC and Plus cards.

Reminder for tourists. If you plan to pay in cash on your trip, I advise you to buy euros in Russia in advance, it will be more profitable.

And one more thing: if you are going to visit Norway, Sweden or Denmark at the same time (luckily everything is nearby), then do not forget that these countries have their own national currency: in Sweden - Swedish kronor (SEK), in Norway - Norwegian kroner (NOK), in Denmark - Danish kroner (DKK).

A SMALL DICTIONARY

All transactions	all operations
Bank	bank
Cash	cash
Cashiers	box office
Cash machine, cash dispenser	ATM
Currency	currency
Currency rate	rate
Commission fee	commission fee
Mopey exchange	exchange office
No commission	no commission
Postipankki	Postal office
Payment...	payment...
- non-cash	- non-cash
- cash	- cash
- by credit card	- by credit card
- with check (check)	- by check