Slovakia to adopt the euro on 1 January 2009

On 1 January 2009, Slovakia will join the euro area, becoming the 16th official member country to do so. The koruna, Slovakia’s national currency, will be in dual circulation with the euro until 16 January 2009.

As from 1 January 2009, the euro will become legal tender in Slovakia and starting from 17 January 2009, the euro will be the sole valid legal tender in the country. Slovak korunas are exchanged for euro at the rate 1 EUR = 30.1260 SKK.

Banks in Slovakia will use this rate to exchange the koruna banknotes until end-2009 and coins until the end of June 2009. The National Bank of Slovakia will exchange the Slovak koruna banknotes for euro without a term and coins until the end of 2013.

Eesti Pank will finish quoting the Slovak koruna on 1 January 2009. Most of Estonia’s commercial banks have ceased to trade with Slovak korunas in cash. Some currency exchange bureaus will continue to exchange Slovak korunas. More specific information can be obtained from the enterprises themselves.

Foe further information on the adoption of the euro in Slovakia, see the home page of the ECB and the home page of the National Bank of Slovakia.

Source: Bank of Estonia

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