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Encyclopedia > Finnish markka
Markka
Image:1markka1994front.jpg Image:1markka1994back.jpg
1 Markka 1994

The markka or mark was the currency used in Finland from 1861 until January 1, 1999, when it was replaced by the euro (€). The currency code used for the markka was FIM, and the usual familiar notation was a postfix mk. It was divided into 100 penni. The conversion for one euro was 5.94573 markkaa. 1 markka 1994 front File history Legend: (cur) = this is the current file, (del) = delete this old version, (rev) = revert to this old version. ... 1 markka 1994 back File history Legend: (cur) = this is the current file, (del) = delete this old version, (rev) = revert to this old version. ... 1861 is a common year starting on Tuesday. ... January 1 is the first day of the calendar year in both the Julian and Gregorian calendars. ... 1999 is a common year starting on Friday of the Common Era, and was designated the International Year of Older Persons by the United Nations. ... The euro (€; ISO 4217 code EUR) is the currency of twelve European Union member states: Austria, Belgium, Finland, France, Germany, Greece, Ireland, Italy, Luxembourg, the Netherlands, Portugal, and Spain. ...


(The Finnish plural forms (strictly speaking, partitive singular forms) of the words "markka" and "penni" are "markkaa" and "penniä".) The basic meaning of the Partitive case is partialness, without result or without specifying identity. In the Finnish language, its used to express unknown identities and irresultative actions. ...


The markka was introduced in 1861 as a quarter of the Russian ruble. After Finland gained independence in 1917, the Bank of Finland was founded and the markka was reintroduced as an independent currency backed by gold. The gold standard was abolished in 1940, and the markka suffered heavy inflation during the war years. In 1963 the markka was replaced by the new markka, equivalent to 100 old units. 1998 Russian Federation one rouble coin. ... 1917 was a common year starting on Monday (see link for calendar). ... The Bank of Finland (Finnish: Suomen Pankki, Swedish: Finlands Bank) is the central bank of Finland. ... 1922 U.S. gold certificate The gold standard is a monetary system in which the standard economic unit of account is a fixed weight of gold. ... 1940 was a leap year starting on Monday (link will take you to calendar). ... Winter war Conflict World War II Date November 30, 1939 - March 12, 1940 Place Finland Result pyrrhic Soviet victory The Winter War (also known as the Soviet-Finnish War or the Russo-Finnish War) broke out when the Soviet Union attacked Finland on November 30, 1939, three months after the... 1963 was a common year starting on Tuesday (link will take you to calendar). ...


The name "markka" was based on a medieval unit of weight. Both "markka" and "penni" are loanwords based on the same roots as the German Mark and pfennig. A 10 Deutsche Mark banknote from Germany 1993 showing Carl Friedrich Gauss (http://www. ... The pfennig was a small German coin valued at 1/100 of a Deutsche Mark and other German currencies with the name Mark. ...


Although the word "markka" predates the currency by several centuries, the currency was established before being named "markka". A competition was held for its name, and some of the other entries included "sataikko" (meaning "having a hundred parts"), "omena" (apple) and "suomo" (from "Suomi", the Finnish name for Finland).


During the history of the Finnish markka, spanning over 140 years, 28 coins denominated in markka have been minted. The pictorial subjects have changed over the years, but they have all been distinctly Finnish. The Finnish markka is now history, when Finland changed its currency to the euro in 1999 (markka coins and notes were not withdrawn from circulation until 2002). 1999 is a common year starting on Friday of the Common Era, and was designated the International Year of Older Persons by the United Nations. ... 2002 is a common year starting on Tuesday of the Gregorian calendar. ...


Portraits in banknotes

This section covers the last design series of the Finnish markka, designed in the 1990s by Finnish designer Erik Bruun. A £20 Ulster Bank banknote. ...

  • 10 markkaa (blue) - Paavo Nurmi (1897–1973), athlete and Olympic winner (note discontinued upon introduction of the 20 markkaa note)
  • 20 markkaa (blue/green) - Väinö Linna (1920–1992), author and novelist (note introduced later in the series)
  • 50 markkaa (brown) - Alvar Aalto (1898–1976), architect
  • 100 markkaa (green) - Jean Sibelius (1865-1957), composer
  • 500 markkaa (red) - Elias Lönnrot (1802-1884), historian
  • 1000 markkaa (blue/purple) - Anders Chydenius (1729-1803), priest and statesman

The series also included a preliminary design for a 5000 markkaa (red/purple) note, depicting priest and linguistic Mikael Agricola, but the note was never officially introduced into use. Born in Turku, Paavo Nurmi (June 13, 1897 - October 2, 1973) was a Finnish runner. ... Väinö Linna (December 20, 1920 - April 21, 1992) was one of the most influential Finnish authors of the 20th century. ... Hugo Alvar Henrik Aalto (February 3, 1898 _ May 11, 1976) was a Finnish architect. ... Part of the Sibelius monument in Helsinki, Finland. ... Elias Lönnrot (April 9, 1802 - March 19, 1884) was a Finland-Swedish philologist and collector of traditional Finnish oral poetry. ... Anders Chydenius ( 1729– 1803) was the leading classical liberal of Nordic history. ... Mikael Agricola Mikael Agricola (c. ...


Earlier banknotes

The second-to-last banknote design series, introduced in the 1960s, was the first series to depict actual specific persons. These included Juho Kusti Paasikivi on the 10 markkaa note, Elias Lönnrot on the 100 markkaa note and Urho Kekkonen on the 500 markkaa note (introduced later). Juho Kusti Paasikivi (November 27, 1870 – December 14, 1956) was President of Finland from 1946 to 1956. ... Elias Lönnrot (April 9, 1802 - March 19, 1884) was a Finland-Swedish philologist and collector of traditional Finnish oral poetry. ... Urho Kekkonen Urho Kaleva Kekkonen (September 3, 1900 - August 31, 1986) was a Finnish politician who served as Prime Minister of Finland from 1950 to 1956, and as the most long-standing president of Finland from 1956 to 1981. ...


Unlike Erik Bruun's series, this series did not depict any other real-life subjects, but only abstract ornaments in addition to the person depictions. A popular joke at the time was to cover all but the right-hand side of Paasikivi's face on the 10 markkaa note, ending up with something resembling a mouse, said to be the only animal illustration in the entire series.


Still older series from the 1920s and 1930s also depicted humans, but these were generic men and women, and did not represent any specific persons. The fact that these men and women were depicted nude caused a minor controversy at the time.


See also: Scandinavian Monetary Union and Euro The Scandinavian Monetary Union, or Skandinaviska myntunionen in Swedish and Skandinaviske møntunion in Danish, was a monetary union formed by Sweden and Denmark on May 5, 1873 by fixing their currencies against gold at par to each other. ... The euro (€; ISO 4217 code EUR) is the currency of twelve European Union member states: Austria, Belgium, Finland, France, Germany, Greece, Ireland, Italy, Luxembourg, the Netherlands, Portugal, and Spain. ...


External link

  • Overview of markka from the BBC (http://news.bbc.co.uk/hi/english/static/in_depth/business/2001/euro_cash/spent_currencies/markka.stm)


Pre-Euro Currencies and non-Euro currencies
Eurozone Austrian schilling | Belgian franc | Dutch guilder | Finnish markka | French franc | German mark | Greek drachma | Irish pound | Italian lira | Luxembourg franc | Portuguese escudo | San Marinese lira | Spanish peseta | Vatican lira
ERM Cypriot pound | Danish krone1 | Estonian kroon | Latvian lat | Lithuanian litas | Maltese lira | Slovenian tolar
Other EU British pound1 | Czech koruna | Hungarian forint | Polish zloty | Slovak koruna | Swedish krona2
Notes:
1 - negotiated an opt-out and is not obliged to join the Eurozone.
2 - technically obliged to join the Eurozone, but deliberately fails to meet one of the Maastricht criteria (namely membership in ERM II).

  Results from FactBites:
 
Bank of Finland - Historical Finnish banknotes and coins (1886 words)
In this office, he was responsible for Finland's economic policy, and his key achievement was the pegging of the Finnish markka to the silver standard in 1865, which led to the stabilisation of the country's currency.
The two ploughmen on the obverse of the 100 markka note are reminiscent of the grand fresco 'Ilmarinen ploughing the field of snakes' at the Finnish National Museum, painted by Akseli Gal-len-Kallela.
Its diameter was traditional 24 mm, ie the same as that of the one markka coin of the period of autonomy and that of the early years of independence.
  More results at FactBites »


 

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