Finnish Markka

The Finnish markka (FIM) was the currency of Finland from 1860 until 28 February 2002, when it ceased to be legal tender. The markka was divided into 100 penniä (singular: penni). On 1 January 1999, the markka was pegged to the euro at a rate of 5.94573 markkaa to 1 euro. This made the markka the 11th weakest currency in the world. The markka was replaced by the euro on 1 January 2002. The markka was introduced in 1860 by the Bank of Finland, replacing the Russian ruble at a rate of four markkaa to one ruble. The markka was subdivided into 100 penniä. In 1865, the markka was declared the official currency of the Russian Empire, replacing the ruble. After the Finnish Civil War in 1918, the markka was replaced by the Finnish markka (FIM). The new markka was subdivided into 100 penniä. In 1922, the markka was pegged to the gold standard at a rate of 1 markka to 2.2 grams of gold. After World War II, the markka was devalued in 1947, 1948, and 1949. In 1963, the markka was pegged to the US dollar at a rate of 1 markka to 0.385 dollars. In 1992, the markka was devalued again. On 1 January 1999, the markka was pegged to the euro at a rate of 5.94573 markkaa to 1 euro. This made the markka the 11th weakest currency in the world. The markka was replaced by the euro on 1 January 2002.