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Double Currency Circulation Period - a transitional period between the date of introduction of the euro in the Member State joining the euro zone and the last date that the existing national currency can be used as a legal currency parallel to the euro. At that time, the national currency is referred to as the euro sub-unit. At the same time, euro banknotes and coins are being exchanged for circulation, and banknotes and coins are withdrawn from the country.

During the period of the dual currency circulation and in the period preceding the introduction of the euro in cash, sellers are required to quote the prices of their products in both national and euro currency.

Selected examples of currency exchange

On 1 January 2002, the euro became a full-fledged payment instrument in the 12 countries of the European Union. The double circulation period should last no longer than February 28, 2002, but four states have shortened this period:

The double circulation of money in selected 12 countries admitted to the European Union in 2004 was: Bibliography

wiki

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