Question

What currency is shared by Austria, Finland, France and Portugal?

Answer 1

Euro is the common currency share among Austria, Finland, France and Portugal.

Currencies of the 4 Countries – Before Euro

• Prior to the Euro, Schilling was the currency of Austria.
• In Finland, the currency used was Markka. It was replaced by Euro.
• French Franc was the currency of France, before replacement by Euro.
• Portuguese Escudo was the currency of Portugal prior to implementing the Euro.

Austrian schilling

• It was the currency of Austria 1925 to 1938 and again from 1945 to 1999.

Finnish Markka

• Internationally the Finnish currency was known as Finnish Mark.
• Finnish Markka was used from 1860 until 28 February 2002.
• Finnish Markka was introduced by the Bank of Finland replacing the Russian Ruble.

French Franc

• French Franc was revalued in 1960.
• It was introduced between 1360 and 1641, however it was reintroduced in 1795.
• French Franc was one of the international reserve currencies in the 19th and 20th centuries.

Portuguese Escudo

• The word escudo derives from the scutum shield, it was a type of shield.
• On 28 February 2002, the Portuguese Escudo was removed from circulation.

Euro

• Euro is the second largest reserve currency in the world.
• Maastricht Treaty of 1992, provided the provisions for establishment of the Euro.
• Out of 27 member nations of European Union (E.U.), 19 countries use Euro as their official currency.
• The Euro is administered and managed by European Central Bank (Frankfurt, Germany) and Eurosystem (Consisting of Central Banks from Eurozone countries).
• After US Dollars, Euro is the 2nd most traded currency in the foreign markets
• Euro is also officially used in Kosovo and Montenegro, these two nations are not members of European Union.
• On 1st January 1999, the world financial markets were introduced to the Euro, as an accounting currency.
• On 16th December 1995, in Madrid (Spain), the name Euro was officially adopted.