Irish pound

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Irish pound
Country: IrelandIreland Ireland
Subdivision: 100 pence
ISO 4217 code : IEP
Abbreviation: Ir £
Exchange rate :
(fixed)

1 EUR = 0.787564 IEP
1 IEP = 1.26974 EUR

1 Irish pound (Series B - 1975-1990)

The Irish pound ( Irish punt Éireannach , English Irish pound ; ISO 4217 : IEP ) was the currency of Ireland until December 31, 2001 and was issued by the Central Bank of Ireland . The Irish pound, like the British pound , was 100 pence (Irish: 100 pingin ) = 1 pound ( punt ).

Until the early 1970s - as in Great Britain and all of its colonies - there was a pre-decimal classification, i.e. 4  farthings ( feoirling ) = 1  penny ( pingin ), 6 pence = 1  sixpence ( réal ), 12 pence = 1  shilling ( scilling ), 2 shillings = 1  florin ( flóirín ), 2 shillings and 6 pence = 1  half crown ( leathchoróin ), 5 shillings = 1  crown ( coróin ), 10 shillings = 1  half sovereign ( leathshabhran ) and 20 shillings = 1  sovereign ( sabhran ) = 1 pound.

Before the introduction of the euro, the following denominations were in circulation:

  • Coins: 1, 2, 5, 10, 20, 50 pence and 1 pound
  • Bills: 5, 10, 20, 50 and 100 pounds

Before the switch to decimal currency, there were coins worth one farthing, half a penny, one penny, three pence, six pence, one shilling, one florin, and half a crown. After the changeover, ½ penny coins were minted from 1971 to 1986.

Ireland's membership in the European Monetary System in 1979 marked the end of parity with the British pound, which had existed for 150 years, although various coins and notes were in circulation in Ireland and Great Britain at the time. Before 1979, British Bank of England notes were widely accepted in Irish retail, but Irish notes were mostly not accepted in the UK. (A similar situation exists today with the pound - notes the Northern Irish and Scottish commercial banks enjoy in England and abroad only limited acceptance.)

In 2002 the Irish pound (Ir £) was replaced by the euro at a ratio of 0.787564: 1 .

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