Starting from 1 January 2011 the euro will come into effect as currency in Estonia. During 2010 Estonia successfully fulfilled all the Maastricht criteria, which are required to join the euro zone. Estonia will be the 17th country and the first Baltic state to join the monetary union.
From 1 January 2011, ATM's will issue 5-, 10- and 50-euro banknotes. All deposits in Estonian kroons will change over to euro deposits (only the payment unit will change).
Until 14 January 2011, it will be possible to use both euros and kroons in making cash payments.
From 15 January 2011, the only official means of payment in Estonia will be euro.
Until 30 June 2011, the companies must show their prices both in kroons and euros.
Until 31 December 2011, banknotes and cents will be exchanged for euros in the bank offices.
The Bank of Estonia will exchange kroons and cents for euros indefinitely, without a service fee and according to the official exchange rate.
More information:
http://euro.eesti.ee
Until 14 January 2011, it will be possible to use both euros and kroons in making cash payments.
From 15 January 2011, the only official means of payment in Estonia will be euro.
Until 30 June 2011, the companies must show their prices both in kroons and euros.
Until 31 December 2011, banknotes and cents will be exchanged for euros in the bank offices.
The Bank of Estonia will exchange kroons and cents for euros indefinitely, without a service fee and according to the official exchange rate.
More information:
http://euro.eesti.ee
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