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Saturday, June 17, 2023

Belgium and Its Currency



Belgium, situated in Western Europe, is known for its central location, bordering the Netherlands, Germany, France, and Luxembourg. With its diverse landscapes, medieval towns, and vibrant cities like Brussels and Bruges, Belgium offers a unique cultural experience.


Having a rich history, Belgium has been influenced by various powers throughout the centuries. It was a battleground during both World Wars and played a significant role in the formation of the European Union.


Today, Belgium is a federal parliamentary democracy and a constitutional monarchy. It is home to important EU institutions and plays a vital role in international politics and diplomacy.


The official currency of Belgium is the Euro (€). It became the national currency in 2002, replacing the Belgian franc. The Euro is widely accepted throughout the country and simplifies financial transactions for residents and tourists alike.


Euro banknotes in Belgium come in denominations of €5, €10, €20, €50, €100, €200, and €500. These banknotes feature various architectural styles from different periods in European history and depict important figures and symbols.


Euro coins in Belgium are available in denominations of 1 cent, 2 cents, 5 cents, 10 cents, 20 cents, 50 cents, €1, and €2. Each coin has a common European side depicting the denomination, while the national side features Belgian designs, such as the royal monogram or famous landmarks.


Prior to adopting the Euro, the official currency of Belgium was the Belgian franc. It was in circulation from 1832 to 2002 and consisted of coins and banknotes. The franc had various denominations, including 20, 50, 100, 200, 500, 1,000, 2,000, and 10,000 franc banknotes, along with different coin values.


Belgium's transition to the Euro brought greater financial integration with other European countries and simplified cross-border transactions within the Eurozone, enhancing economic cooperation and trade.

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