Finnish markka facts for kids
Quick facts for kids Finnish markka |
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|---|---|---|---|
| Suomen markka (Finnish) finsk mark (Swedish) |
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| ISO 4217 Code | FIM | ||
| User(s) | None, previously: Finland |
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| ERM | |||
| Since | 14 October 1996 | ||
| Fixed rate since | 31 December 1998 | ||
| Replaced by €, non cash | 1 January 1999 | ||
| Replaced by €, cash | 1 January 2002 | ||
| € = | 5.94573 mk | ||
| Subunit | |||
| 1⁄100 | penni | ||
| Symbol | mk | ||
| penni | p | ||
| Plural | markkaa (Finnish partitive sg.) mark (Swedish) |
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| penni | penniä (Finnish partitive sg.) penni (Swedish) |
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| Coins | |||
| Freq. used | 10 p, 50 p, 1 mk, 5 mk, 10 mk | ||
| Rarely used | 1 p (until 1979), 5 p and 20 p (until 1990) | ||
| Banknotes | |||
| Freq. used | 10 mk, 20 mk, 50 mk, 100 mk, 500 mk | ||
| Rarely used | 1000 mk | ||
| This infobox shows the latest status before this currency was rendered obsolete. | |||
The Finnish markka, also known as the Suomen markka, was the official money used in Finland for many years. People often just called it the markka. Its short form was mk, and its international code was FIM. Before Finland started using the Euro, the markka was how people bought things, paid for services, and saved money.
The markka was divided into smaller parts called pennies. Just like one dollar has 100 cents, one markka had 100 pennies. A penny was called penni (p) in Finnish.
Contents
What Was the Finnish Markka?
The Finnish markka was first introduced in 1860. This was a big step for Finland, which was then a part of Russia. Having its own money helped Finland manage its economy better. The markka was used for over 140 years. It saw Finland through many changes, including gaining independence.
How the Markka Was Used
The markka was the everyday money for everyone in Finland. You would use markka coins and banknotes to buy groceries, pay for bus tickets, or get a new toy. The Bank of Finland was in charge of printing the banknotes and minting the coins. They made sure there was enough money for everyone to use.
Coins and Banknotes
Like most types of money, the Finnish markka came in both coins and paper banknotes. These had different values, so people could pay for things big or small.
Common Coins
Some markka coins were used very often. These included:
- 10 penniä (10 p)
- 50 penniä (50 p)
- 1 markka (1 mk)
- 5 markkaa (5 mk)
- 10 markkaa (10 mk)
There were also some coins that were not used as much. For example, the 1 penni coin stopped being made in 1979. The 5 penni and 20 penni coins were also less common after 1990.
Paper Banknotes
The markka banknotes came in different values, too. These were used for larger purchases. The most common banknotes were:
- 10 markkaa (10 mk)
- 20 markkaa (20 mk)
- 50 markkaa (50 mk)
- 100 markkaa (100 mk)
- 500 markkaa (500 mk)
There was also a 1000 markka banknote, but it was not used as often as the others. These banknotes often featured famous Finnish people or important landmarks.
The Markka and the Euro
Finland decided to join many other European countries in using a new common currency called the Euro. This meant that the markka would eventually be replaced.
Switching to the Euro
The change happened in a few steps. From January 1, 1999, the markka's value was officially linked to the Euro. This meant that for things like bank accounts and electronic payments, the Euro was already being used. However, people still used markka coins and banknotes for everyday shopping.
On January 1, 2002, Euro coins and banknotes were introduced. From that day on, people started using the Euro for all cash payments. The markka was slowly taken out of use. People could exchange their markka money for Euros at banks for a certain period. This marked the end of the Finnish markka's long history.
Images for kids
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Mk 20 banknote issued in 1862 for the Grand Duchy of Finland. The banknote's obverse depicts the coat of arms of Finland on a Russian double-headed eagle, and was personally signed by the director and the cashier of the Bank of Finland. The text on the obverse is in Swedish, whereas the reverse is primarily in Russian and Finnish.
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Finnish Mk 5,000 markka banknotes (1940), seen in OP Financial Group's museum in Vallila, Helsinki
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See also
In Spanish: Marco finlandés para niños
