Greece now a member of European Economic and Monetary Union 

On 1 January 2001, the euro was introduced in Greece. Greece has thus become the twelfth EU member state to adopt the single currency and the first one to do so since the start of Stage Three of Economic and Monetary Union (EMU) on 1 January 1999.

As a result of the adoption of the euro by Greece, the Bank of Greece has the same rights and obligations as the national central banks of the other 11 EU Member states that have adopted the euro.

As with the other euro zone countries, euro notes and coins will become legal tender in Greece on 1 January 2002.

The conversion rate between the Greek Drachma and the Euro, with effect from 1 January 2001 is as follows:

1 Euro = 340.750 Greek Drachma