Dual circulation of Slovak koruna and euro comes to an end in Slovakia

Today marks the end of the dual circulation period of Slovak koruna and euro banknotes and coins in Slovakia. As of tomorrow, all payments will be made exclusively in euro.

Banks will continue to exchange, free of charge, Slovak koruna banknotes until 31 December 2009 and coins until 30 June 2009, although fees may be charged by banks as of 20 January 2009 if the number of banknotes or coins exceeds 100 per transaction. Národná banka Slovenska will redeem Slovak koruna banknotes for an unlimited period of time. In the case of coins, the redemption period will run until the end of 2013.

The timely and exhaustive preparation of all professional parties, such as the banking and retail sectors, and the favourable reception of the new currency by Slovak citizens have contributed to a smooth, quick changeover to the euro. More than 2/3 of the notes now in circulation in Slovakia are euro-denominated.

The cash changeover has been progressing according to plan. No shortages or incidents of counterfeiting have been reported.