BEF 15bn in old francs still outstanding

12th July 2006, Comments 0 comments

12 July 2006, BRUSSELS — Four years after the introduction of the euro, Belgians are still holding on to BEF 15 billion or EUR 382 million in old Belgian francs.

12 July 2006

BRUSSELS — Four years after the introduction of the euro, Belgians are still holding on to BEF 15 billion or EUR 382 million in old Belgian francs.

The National Bank of Belgium (NBB) said 16.5 million Belgian franc notes and 1.8 billion coins are still in the hands of the public.

More than half of the old BEF 1 and 5 coins have never been exchanged for euros. That amounts to EUR 188 million.

And it is too late to exchange Belgian franc coins for euros. On 1 March 2002, the Belgian franc lost its status as a legal form of payment.

Since then, Belgian franc coins have been worthless, unless for collectors. But the case is different for old Belgian franc notes.

NBB spokeswoman Kristin Bosman said every note that the national bank issued after 1944 remains exchangeable without restriction.

"Notes are still brought into the national bank on a daily basis," she said.

In the first six months of this year, 218,000 old Belgian franc notes were exchanged for euros, amounting to EUR 7 million.

[Copyright Expatica News 2006]

Subject: Belgian news

0 Comments To This Article