for the initial changeover 14,890

for the initial changeover

Consolidation in this field is expected to start after the final changeover to the euro .

The circulation of euro banknotes and coins represents the functional culmination of European Monetary Union .

As the Eurosystem is responsible for putting euro banknotes into circulation , there is therefore a need for a common Eurosystem position .

Coins First peso, 1844 1905 Only one denomination of coin was issued by the Dominican Republic before decimalization.

Each country will choose to have either a simultaneous launch of the currency and cash ( big bang scenario ) or a transition period .

This proportion is generally in line with NCBs experience with the legacy banknotes after a similar period from their launch .

The functional culmination of European Economic and Monetary Union ( EMU ) came on 1 January 2002 , when euro banknotes and coins entered circulation .

Already before their launch in January 2002 , euro banknotes were tested for possible risks related to acute oral toxicity , dermal irritation and genotoxicity .

Setting

The issue of euro banknotes need not be subject to quantitative or other limits , since putting banknotes into circulation is a demand driven process .

Table 1 shows the initial supply volume for the 2002 cash changeover produced between 1999 and 2001 .

In April 2001 the ECB 's Governing Council decided that the production of euro banknotes should be decentralised and pooled after the initial cash changeover .

Throughout the year , production progress was carefully monitored by the ECB in terms of both quantity and quality .

Euro cash changeover My first remark has to be on the successful physical introduction of the new currency .

Banknotes in circulation ( )

Domestic

Banknotes in circulation

Currency in circulation

Currency in circulation

Currency in circulation EN

Currency circulation in

The regular contributions of the ECB and members of the plan have been invested on a monthly basis .

a protection system must be adopted rapidly so that it can be operational before euro notes and coins are put into circulation .

This was the final step in a process which was started formally in 1991 and led to the signing of the Maastricht Treaty in 1992 .

The SEPA is a major European objective which in ambition , size and complexity is comparable with the changeover to the euro banknotes and coins .

Accordingly , some of the functions of the system are not yet available . In the interim , other procedures have been established to ensure an efficient use of the information which is being stored in the database .

Implementation and migration

Asset pooling

Banknotes in circulation ( )

Banknotes in circulation 2 .

EN 2 .

Currency in circulation 9 .

Currency in circulation ( 1 )

Chapter 9 looks at euro banknotes from various angles and includes a brief account of their development in the 1990s and introduction in 2002 .

CCBM2 launch of the project

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THE EURO BANKNOTES IN CIRCULATION

currency in circulation M2 M1

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Circulation

went live in June 2006 110

TARGET2 Securities launch of the project

and 5 ) TARGET implementation .