Changeover to the euro in Estonia on 1 January 2011

On 1 January 2011 Estonia will adopt the euro as its currency and become the 17th country to join the euro area.

Kroons will be exchanged for the euros with a conversion ratio of 1 euro = 15,6466 kroons. Bank accounts will be converted with an accuracy of one euro sent, and final sums will be rounded off according to the third digit after the comma.

After a two-week period of parallel circulation the only legal means of payment in Estonia is the euro.

Estonia's accession to the Economic and Monetary Union is considered to be the best and most reliable way of ensuring the stablity and low inflation level of the currency in circulation.