(h) On Monday March 16th 1998, the Greek Drachma
entered the Exchange Rate Mechanism (ERM) of the European Monetary System and was devalued by 14 per cent.
From January 1, 1999 the exchange rates of the currencies in the Euro zone can no longer fluctuate, since they are irrevocably fixed.If the figures include the Greek Drachma
and the Danish Krone, that are not part of the Euro zone from the outset, but which are the first members of the new ERM II, the fluctuation band is wider.
Calculating the value of the ecu includes taking into account the currencies of member states which will not take part in the euro experiment - the pound sterling, Danish crown and Greek drachma
This decision allows the Danish Krone a fluctuation band of +/-2.25% about its pivotal rate, and the Greek Drachma
If the Greek Drachma
and the Danish Krone, the two currencies that will not be part of the Euro zone at the start but which will be the first members of EMS Mark II, are included, the fluctuation band becomes wider.
But the biggest change according to Thomas Cook has been the 42.9 per cent increase against the Greek Drachma
since April 1996 - 18.1 per cent of which has been in the last year.
Over these two months, the Greek Drachma
was again the strongest currency in the ERM grid.
"The oldest currency I have collected is the Greek drachmas
, then comes the Islamic dirhams and dinars, the Maria Theresa Thaler, A.K.A Austrian riyal, Ottoman riyal, Persian shahi and dinar, Burgashia paisa (named after a Sultan of Oman & Zanzibar), Indian rupee (consisting of seven variants) and the Qatar and Dubai riyal.
(Elter) submitted price offers in Greek drachmas
What I'll treasure the most is my collection of Italian lira, Spanish pesetas, French francs and Greek drachmas
, as these are four of the 12 European currencies that have been replaced by the new Euro.
Olympic Holidays is highlighting the fact that visitors are getting about 15 per cent more Greek drachmas
for their pound than they were a year ago - while with the Cyprus pound they are getting 20 to 25 percent more for their money.
One euro is equal to: 6.55957 French francs 1.95583 German marks 40.3399 Belgian/Luxembourg francs 2.20371 Dutch guilders 13.7603 Austrian Schillings 5.94573 Finnish markka340.750 Greek drachmas
0.787564 Irish punts 1,936.27 Italian lire 200.482 Portuguese escudos 166.386 Spanish pesetasl Where can customers purchase euros?