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<title>GnuCash and the EURO</title>
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<h1>GnuCash and the EURO</h1>
<h2>Introduction</h2>
<p>On January 1, 1999, eleven European Union countries formed
an economic and monetary union (EMU) and started using a single
currency - the euro. These countries locked the exchange rates
of their national currencies to the euro and are sharing the
new currency.</p>
<p>However, euro notes and coins will not be available until
January 1, 2001. Until then, the old national currency notes
and coins (French francs, Deutschmarks etc) will continue to
circulate. But in law they are part of the euro. Their value in
euro is completely fixed. All kinds of cashless monetary
transactions like cheques or wire transfers are possible in
euro</p>
<p>You can find more information about the euro at: <a href=
"http://europa.eu.int/euro">http://europa.eu.int/euro</a> .</p>
<h2>EMU Member Countries and Exchange Rates</h2>
<a name="euro_iso_curr"></a>
<p>The following table shows the EMU member countries and the
respective exchange rates of the euro to the old national
currencies. More countries are expected to join the EMU
later.</p>
<table border="1">
<tr>
<th>Country</th>
<th>ISO Code</th>
<th>Full Description</th>
<th>Exchange Rate</th>
</tr>
<tr>
<td>
</td>
</tr>
<tr>
<td>Austria</td>
<td>ATS</td>
<td>Austrian Schilling</td>
<td>1 euro = 13.7603 S</td>
</tr>
<tr>
<td>Belgium</td>
<td>BEF</td>
<td>Belgian Franc</td>
<td>1 euro = 40.3399 bfrs</td>
</tr>
<tr>
<td>Finland</td>
<td>FIM</td>
<td>Finnish Mark</td>
<td>1 euro = 5.94573 Fmk</td>
</tr>
<tr>
<td>France</td>
<td>FRF</td>
<td>French Franc</td>
<td>1 euro = 6.55957 FF</td>
</tr>
<tr>
<td>Germany</td>
<td>DEM</td>
<td>German Mark</td>
<td>1 euro = 1.95538 DM</td>
</tr>
<tr>
<td>Ireland</td>
<td>IEP</td>
<td>Irish Pound</td>
<td>1 euro = 0.787564 Ir. &pound;</td>
</tr>
<tr>
<td>Italy</td>
<td>ITL</td>
<td>Italian Lira</td>
<td>1 euro = 1936.27 Lit</td>
</tr>
<tr>
<td>Luxembourg</td>
<td>LUF</td>
<td>Luxembourgian Franc</td>
<td>1 euro = 40.3399 lfrs</td>
</tr>
<tr>
<td>Netherlands</td>
<td>NLG</td>
<td>Dutch Guilder</td>
<td>1 euro = 2.20371 hfl</td>
</tr>
<tr>
<td>Portugal</td>
<td>PTE</td>
<td>Portuguese Escudo</td>
<td>1 euro = 200.482 Esc</td>
</tr>
<tr>
<td>Spain</td>
<td>ESP</td>
<td>Spanish Peseta</td>
<td>1 euro = 166.386 Ptas</td>
</tr>
</table>
<h2>EURO support in GnuCash</h2>
<p>You can enable euro support in GnuCash in the international
category of the <a href="xacc-globalprefs.html">preferences</a>
dialog box. If your system locale specifies one of the <a href=
"#euro_iso_curr">EMU member currencies</a>, euro support is
enabled by default.</p>
<p>FIXME: Actual documentation with screenshots and so on</p>
<p>Return to <a href="xacc-main.html">Main Documentation
Page.</a></p>
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