Slovakia joins the euro

The European Commission closely monitored the changeover to the euro in Slovakia that started on 1 January 2009. News updates on the latest developments, based on surveys conducted by the Commission and the national authorities, were available daily from 1 January to 16 January 2009.

Article updated on 16.01.2009

Successful end of the dual circulation period in Slovakia

Today is the last day when the shops in Slovakia accept payments in two currencies - the Slovak koruna and the euro. The dual circulation period ends today and the Slovak koruna stops being legal tender in Slovakia. However, the Slovak koruna banknotes can be exchanged free of charge in all commercial banks until the end of 2009, while the National Bank of Slovakia will continue to exchange them indefinitely, under the same conditions as on 1 January 2009. Slovak koruna coins can be exchanged in commercial banks until 30 June 2009 and in the NBS until the end of 2013.

The cash changeover gained speed in the last two days. According to a Commission survey, the proportion of citizens with only euro banknotes in their pockets increased from 73% on Tuesday 13 January to 89% on Thursday 15 January. Additionally, some 8% had mostly euro banknotes in their wallets, so a total of 97% of Slovaks possessed only or mostly euro banknotes a day before the end of the dual circulation period. At the same time, some 98% carried only or mostly euro coins. Although the changeover started slower in Slovakia, the final results compare well to those recorded in Slovenia at the end of the dual circulation period: on 16 January 2007, 97% of Slovenes had only or mostly euro banknotes or coins in their pockets.

The proportion of cash payments exclusively in euro also registered an important increase from 87% on Tuesday to 96% on Thursday evening 15 January. Only 2% of shoppers paid with Slovak koruna cash and all shoppers polled by the Commission survey received change in euro.

The changeover to the euro in Slovakia was very smooth and successful. Due to meticulous preparations in all sectors, no important problems were recorded. The banking and retail sectors coped generally successfully with the extra workload during the period of parallel circulation of both currencies. Last but not least, the cooperation and patience demonstrated by the citizens also played a very important role in the successful introduction of the single European currency in Slovakia.

Press releases

05.01.2009 - IP/09/6 - Euro adoption proceeds smoothly in Slovakia

01.01.2009 - IP/09/1 - Slovakia adopted the euro today

29.12.2008 - IP/08/2061 - In less than three days Slovakia adopts the euro; euro turns 10

18.12.2008 - IP/08/2007 - In less than a fortnight Slovakia adopts the euro; euro turns 10

Links

Focus on: Slovakia: welcome to the euro area!

Flash Eurobarometer 255 (15.01.2009) - Slovak switchover to euro - D-Day + 14: Report and graphs

Flash Eurobarometer 255 (13.01.2009) - Slovak switchover to euro - D-Day + 12: Report and graphs

Flash Eurobarometer 255 (10.01.2009) - Slovak switchover to euro - D-Day + 9: Report and graphs

Flash Eurobarometer 255 (07.01.2009) - Slovak switchover to euro - D-Day + 6: Report and graphs

Flash Eurobarometer 255 (05.01.2009) - Slovak switchover to euro - D-Day + 4: Report and graphs

Flash Eurobarometer 255 (03.01.2009) - Slovak switchover to euro - D-Day + 2: Report and graphs

Flash Eurobarometer 255 (02.01.2009) - Slovak switchover to euro - D-Day + 1: Report and graphs

Flash Eurobarometer 255 (01.01.2009) - Slovak switchover to euro - D-Day: Report and graphs

Flash Eurobarometer 255 (29.12.2008) - Slovak switchover to euro: Prior to the dual circulation period: Report

Slovakia joins the euro

Successful end of the dual circulation period in Slovakia

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