Markka


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Markka

The former currency of Finland. It was introduced in 1860, replacing the Russian ruble. Like most currencies, it was pegged to the U.S. dollar during the Bretton Woods period, and later to various currency baskets. It was replaced by the euro in 1999 and ceased circulating in 2002.
References in periodicals archive ?
At first, to hold the economic boom, the markka was revaluated, but as the tide began to turn this started to feed speculations of devaluation.
There are Finnish markka coins to a value of EUR110m and Finnish markka notes to a value of EUR170m in Finnish households, according to calculations from the Bank of Finland.
But cash machines will not be spewing out euros until the supply of markkas has been exhausted.
Between 1972 and 1979, each markka reduced total [BOD.sub.7] emissions on average 7.0 grams, between 1980 and 1990, only 3.2 grams, and almost none, only 0.6 grams, between 1995 and 1998.
TVO, which operates two of Finland's four reactors, says it would cost between 10-15 billion Markka (Euro 1.7-2.5 billion) to build the reactor and it would have it ready in 2008-2010.Foratom's support.EU nuclear lobby Foratom hailed the Finnish move as "economically far-sighted and environmentally sound".
(EUR-euro; FIM-Finland markka; EIP-Irish pound) Convert From To IEP 53.07 EUR 67.38 EUR 101.56 IEP 79.98 FIM 892.90 EUR 150.17 EUR 18.15 FIM 107.91
1991-99 Slovenian tolar, Croatian dinar, Bosnian convertible markka, Yugoslav new dinar, Macedonian denar, followed by the official adoption of the Deutschmark as parallel currency in Kosovo and Montenegro in 1999.
It had a net income of 1.9m markka ($340,000) on revenue of 18.8m markka ($3.34m) in the year ending February 28, 1999.
Privatization and corporate restructuring, reform of the banking sector, devaluation of the Finish markka, public and private sector cost-cutting and entry into the European Union all made a significant contribution to Finland's successful repositioning.
For decades the business cycle of the forest industry seemed to govern the devaluations of the Finnish markka: As the cycle went into its slump, the government was forced to devalue the markka, thus giving some relief to the Finnish forest industry in the world market, helping it regain its competitiveness.
Exhibit 1: Fixed Euro Conversion Rates Currency Literacy Country Currency Abbreviation Rate Euroland euro EUR 1 Austria schilling ATS 13.7603 Belgium franc BEF 40.3399 Finland markka FIM 5.94573 France franc FRF 6.55957 Germany mark DEM 1.95583 Ireland punt IEP .787564 Italy lira ITL 1,936.27 Luxembourg franc LUF 40.3399 Netherlands guilder NLG 2.20371 Portugal escudo PTE 200.482 Spain peseta ESP 166.386
The currencies and monetary operations being merged are the Austrian schilling, Belgian/Luxembourg franc, Dutch guilder, Finnish markka, French franc, German mark, Irish pound, Italian lira, Portuguese escuda, and Spanish peseta.