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Economy and Finance

Luxembourg and the euro

Luxembourg is a founding member of the European Union and one of the first countries to adopt the euro on 1 January 1999.

Status

Euro-area member since 1 January 1999.

Fixed conversion rate:

€1 = 40.3399 LUF

Adoption of the euro

The euro banknotes and coins were introduced in Luxembourg on 1 January 2002, after a transitional period of three years when the euro was the official currency but only existed as 'book money'. The dual circulation period – when both the LUF and the euro had legal tender status – ended on 28 February 2002.

Exchange of former national currency

The Banque centrale du Luxembourg (National Central Bank of Luxembourg) exchanged national coins until 31 December 2004 and will continue to exchange national banknotes for an unlimited period.

Institutions