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Andorra is a small European country which is located in the Southwest region of Europe. The country is known to have been using the currency of French and Spain since a long time. Andorra doesn’t come under the European Union and hence it was dependent on the currency of its neighboring states which are France and Spain. Andorra has never had an independent currency since the state was formed. The article describes every detail about the Andorra currency.
About Andorra Currency
Like mentioned before¸ Andorra has never had its independent currency. It either used the currency of France which is franc or it used the currency of Spain which is peseta. These currencies were in use till the euro took over all the currencies of the European Union states. In 2002¸ Euro was official made the currency of all the EU countries and hence Andorra also was issued to use Euro. Andorra has requested the Council of European Union for permission to mint its own currency with their nationality on one side of the coin. But the decision to allow Andorra to mint coins was shelved for quite some time. The continuous postponement of the decision is considered to be due to the poor relations between the EU and Andorra regarding the tax haven status.
Andorra Currency Name
There are no recordings of Andorra minting any national currency before it started using franc and peseta. Later it started using the EU euro. Officially the currency name which is used in Andorra is the Euro. There are no other currencies which are used in Andorra. The state has only produced commemorative diner coin in the past and ever since did not mint any other currency.
Specifically about Andorran Currency
As mentioned before there is no currency in specific which can be termed as Andorran currency. It was always dependent on its neighboring states for the issuing of currency. Therefore the only specific currency which Andorra has ever had is the currency which they have minted long back in their history is commemorative diner coins which are no longer in usage.
Andorra Currency ISO 4217 Code
Andorra currency is official the European Euro. ISO 4217 code is the code given to official currencies all across the world so that the code would identify the name and the validity of the currency in that particular country. The standards are set for easy exchange of the currency into dollars or pounds. The ISO 4217 code for euro is XE.
Andorra Currency Banknotes
The euro has been first issued in European Countries in the year 2002. The denominations of banknotes in the Euro are 5¸ 10¸ 20¸ 50¸ 100¸ 200 and 500 Euros. Every denomination has a unique color and is designed as per the artistic era of the European architecture. There are many aspects which are finely defined in the designs of these notes by the Austrian designer Robert Kalina. The front side of the notes has gateways and windows where as the back side of the notes have bridges.
Andorra Currency Coins
The coins are issued in the denominations of €2¸ €1¸ 50c¸ 20c¸ 10c¸ 5c¸ 2c¸ and 1c. The lesser denominations were introduced as the some local traders were refusing to accept the big notes of Euros. Therefore the introduction of these coins of various less denominations was introduced.
Andorra Currency Symbol
Andorra currency is the Euro and hence the symbol of the currency is also of Euro. ‘€’ is the official symbol of Euro which is recognized worldwide.
Official Users of Andorra Currency
Apart from Andorra¸ Euro is also used all across the European Union countries. Euro is the unanimously used currency in Europe.
Currency Exchange Rate to other World Famous Currencies like US
The exchange rate of XE is commonly compared with the USD. As the USD is approved worldwide¸ one can exchange their Euros into dollars if they are planning to leave the EU nations and go out for a holiday. The value of 1 Euro is 1.36773 USD as on 21st February 2011 (the value of the exchange rate varies from time to time depending on the variations in stocks and government revenue).
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