The euro is the official currency in the Netherlands, where the Netherlands uses the euro currency like the rest of the European Union, and it was adopted as the official currency of the country in 2002 AD, and although it has been in use in the Netherlands since 1999 AD, its use was limited On some means, travelers checks only. It is known that the euro is the only currency used in the Netherlands at the present time, which makes its visitors keen to convert their currencies to the euro; To complete their commercial transactions smoothly.
The euro is the official currency for nineteen of the twenty-eight European Union countries. The euro was introduced by the European Union to the financial community in 1999 AD, and coins and paper money were issued from it in 2002 by the European System of Central Banks. The euro is the second most traded currency in the world after the US dollar. Austria, Belgium, France, Germany, Portugal, Greece, Spain, Italy, Ireland, Finland, Luxembourg, in addition to the Netherlands make up the so-called eurozone, which is the region in which this currency operates. As the common official currency of those countries.
The Dutch Guilder remained the official currency of the Netherlands between 1680 and 2002, until it was officially replaced by the euro, and the guilder became a sub-unit of the euro between 1999 and 2002, due to the lack of coins or banknotes for the euro at that time The guilder coins were distinguished at the time by being made of gold, and in the period between 1810 and 1814, the guilder was replaced by the French franc, but it was reused after the Napoleonic wars, until the euro replaced it in 2002 at an exchange rate estimated at 2.20371 guilders to one euro.
The financial sector in the Netherlands
Commercial banking in the Netherlands has suffered from several tensions; She invited her to move towards the integration of banks and insurance companies in them over several decades. The Dutch Central Bank, which is state-owned, supervises the banking system in the country. In the early seventeenth century, the Amsterdam Stock Exchange was established, which is considered one of the oldest stock exchanges in the world. The Dutch market is mainly associated with Europe and North America, where the common market was established in 1958, during which about 40% of Dutch exports went to Germany, Belgium, France, Italy and Luxembourg. It should be noted that the service industry today constitutes about two-thirds GDP, while tourism plays an important role in supporting the Dutch economy.
- ^ AB John Misachi (1-8-2017), “What Is The Currency Of The Netherlands?”, www.worldatlas.com, Retrieved 24-5-2019. Edited.
- ↑ JAMES CHEN (11-1-2018), “Euro”, www.investopedia.com, Retrieved 24-5-2019. Edited.
- ↑ Marcus Willem Heslinga, Michael J. Wintle, Herbert H. Rowen (17-5-2019), “Netherlands”, www.britannica.com, Retrieved 24-5-2019. Edited.
What is the currency of the Netherlands?