Germany and the euro

— last modified 03 February 2008

Germany is a founding member of the European Union and was one of the first-wave EU countries to adopt the euro on 1 January 1999.

Germany at a glance

Surface area: 357 030 km²
Population: 82 310 995 (Eurostat 2007, provisional figure)
Joined the European Union: Founding member (25 March 1957)
Currency: Euro since 1 January 1999 (formerly German mark, DEM or DM)

Euro information

Status: Euro-area member since 1 January 1999

Fixed conversion rate: 1 = 1.95583 DEM

Adoption of the euro: The euro banknotes and coins were introduced in Germany on 1 January 2002, after a transitional period of three years when the euro was the official currency but only existed as ‘book money’. The legal tender status of the German mark banknotes and coins ended on 31 December 2001, but they were accepted as payment until 28 February 2002 by virtue of a joint declaration from retail and banking associations.

Exchange of former national currency: The Deutsche Bundesbank (National Central Bank of Germany) will continue to exchange unlimited amounts of mark notes and coins for an unlimited period.