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The pound (Irish: punt) was the currency of Ireland until 2002. Its ISO 4217 code was IEP, and the symbol was £ (or £Ir for distinction. [1]) The Irish pound was replaced by the euro on 1 January 1999. [2] Euro currency did not begin circulation until the beginning of 2002.
The euro became the currency of the eurozone countries, including Ireland, on 1 January 1999. As with all eurozone countries, Ireland continued to mint its own banknotes after the currency changeover to the euro. Previously issued Irish banknotes circulated concurrently with the newer Irish-minted euro denominated banknotes.
The designs were quite simple using only figures and symbols to indicate the value; using only the letter "P" to denote both penny and pingin (the Irish word for penny). In 1978, the Central Bank of Ireland opened the Currency Centre at Sandyford in Dublin for the production of coins and banknotes.
All de facto present currencies in Europe, and an incomplete list of the preceding currency, are listed here. In Europe, the most commonly used currency is the euro (used by 26 countries); any country entering the European Union (EU) is expected to join the eurozone [1] when they meet the five convergence criteria. [2]
Ireland adopted the euro as its currency along with most of its EU partners on 1 January 2002. The national side of the Irish euro coins bears the coat of arms of Ireland and the 12 stars of the EU, the year of imprint and the Irish name for Ireland, Éire, in the traditional Irish script. These coins circulate throughout the eurozone.
Irish euro coins all share the same design by Jarlath Hayes, that of the harp, a traditional symbol for Ireland since the Middle Ages, based on that of the Brian Boru harp, housed in Trinity College Dublin. The same harp is used as on the official seals of the Taoiseach, and government ministers and the seal of the president of Ireland.
The weakness of the paper currency in Ireland lead to pressure for the creation of a ‘National Bank’ to provide a stable currency. Eventually, the Bank of Ireland was created to fill this need. The Bank of Ireland was the first joint stock bank to produce notes intended for use throughout Ireland; its first issue was in 1783. [2]
Coins of the Republic of Ireland (22 P, 10 F) Pages in category "Currencies of the Republic of Ireland" The following 13 pages are in this category, out of 13 total.