Greek drachma (euro)
- Monetary unit:
- the Country code:
- Greece, Republic
- of 130 850 sq. km
- Greek (state), English, French
- GR (GRC) 300
Greece is an exhibiting country the European Union . Monetary unit - euro - to equal 100 eurocents.
Till January, 1st, 2002 drachmas - to equal 100 leptons were cash token moneys of Greece. A nominal number of the native currency of Greece has been presented by notes of denomination of 100, 200, 1000, 5000 and 10000 drachmas.
In September, 1836 in Greece the decimal monetary system has been entered: the drachma with a gold content in 0,290322 g of pure gold (4,5 g of a fine silver) that equaled to the gold and silver contents of franc France was minted. Paper token moneys in drachmas have been manufactured by the National bank of Greece in 1841 Since September 1848 on 1927 Greece was the participant of the Latin monetary union.
In days of the Second World War and fascist occupation the drachma almost has completely depreciated. In November, 1944 the new drachma on a parity 1 new drachma = 50 billion old drachmas has been entered into the circulation.
After drachma devaluation in April, 1953 its rate again was hardly depressed. On May, 1st, 1954 as a result of currency reform the exchange of token moneys on a parity 1 new drachma = 1000 old drachmas has been manufactured.
On January, 1st, 1981 Greece has entered EUROPEAN ECONOMIC COMMUNITY, but the drachma has not entered into the mechanism of regulation of rates of the European currency system.
It is updated 05.2012