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class="ecl-page-header__title"><span>Luxembourg and the euro</span></h1></div><div class="ecl-page-header__description-container"><p class="ecl-page-header__description">Luxembourg is a founding member of the European Union and one of the first countries to adopt the euro on 1 January 1999. </p></div></div></div> </div> <main class="ecl-u-pb-xl" id="main-content" data-inpage-navigation-source-area="h2.ecl-u-type-heading-2, div.ecl-featured-item__heading"> <div class="ecl-container"> <div class="ecl-row"> <div class="ecl-col-s-12 ewcms-top-sidebar"> <div> <div data-drupal-messages-fallback class="hidden"></div> </div> </div> </div> <div class="ecl-row"> <div class="ecl-col-s-12"> <div id="block-ewcms-theme-main-page-content" data-inpage-navigation-source-area="h2, div.ecl-featured-item__heading" class="ecl-u-mb-l"> <article dir="ltr"> <div> <div class="ecl-u-mb-2xl"> <a id="paragraph_966"></a> <div class="ecl-row inpage-navigation-container"> <div class="ecl-col-l-3"> <nav 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xlink:href="/themes/contrib/oe_theme/dist/ec/images/icons/sprites/icons.svg#corner-arrow"></use></svg></button></div><ul class="ecl-inpage-navigation__list" data-ecl-inpage-navigation-list="true" id="ecl-inpage-navigation-321679804-list"></ul></div></nav> </div> <div class="ecl-col-l-9" data-inpage-navigation-source-area="h2, div.ecl-featured-item__heading"> <div class="ecl-u-mb-2xl"> <a id="paragraph_239"></a> <div class="ecl"><h2 id="status">Status</h2> <p>Euro-area member since 1 January 1999.</p> <h2 id="fixedconversionrate">Fixed conversion rate:</h2> <p>€1 = 40.3399 LUF</p> <h2 id="adoption">Adoption of the euro</h2> <p>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.</p> <h2 id="exchange">Exchange of former national currency</h2> <p>The <a href="http://www.bcl.lu/fr/monnaie/remboursement/index.html" class="ecl-link ecl-link--icon ecl-link--icon-after"><span class="ecl-link__label">Banque centrale du Luxembourg</span><svg class="ecl-icon ecl-icon--xs ecl-link__icon" focusable="false" aria-hidden="true" xmlns:xlink="http://www.w3.org/1999/xlink"><use xlink:href="/themes/contrib/oe_theme/dist/ec/images/icons/sprites/icons.svg#external" /></svg></a> (National Central Bank of Luxembourg) exchanged national coins until 31 December 2004 and will continue to exchange national banknotes for an unlimited period.</p> <h2 id="institutions">Institutions</h2> <ul> <li><a href="http://www.bcl.lu/fr/index.php" class="ecl-link ecl-link--icon ecl-link--icon-after"><span class="ecl-link__label">Banque centrale du Luxembourg</span><svg class="ecl-icon 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