Currencies related to the euro Totally Explained

Everything about Currencies Related To The Euro totally explained

Currently there are several currencies pegged to the euro, some with fluctuation bands around a central rate and others with no fluctuations allowed around the central rate. This can been seen as a safety measure, especially for currencies of areas with weak economies, as euro is seen as a stable currency and therefore would prevent collapse of currencies pegged to it, unless the euro itself were to collapse or the country were to run out of euros to exchange for their currency.
A few currencies remain pegged to the euro by virtue of the fact they were already pegged to one of the predecessors to the euro before the euro's introduction. The French franc and the German mark were the most widely used pre-euro currencies for pegging.

Currencies pegged to the euro

Currency	Code	Units per euro	Band	Pegged Since	EMU	Remarks
B&H konvertibilna marka	BAM	1.95583		1 January 1999		Formerly pegged to the German Mark (since November 21 1995) at par, hence same rate as DEM to EUR
Bulgarian lev	BGN	1.95583		1 January 1999		Formerly pegged to the German Mark (since July 5 1999) at par, hence same rate as DEM to EUR
Cape Verdean escudo	CVE	110.265		1 January 1999		Formerly pegged to the Portuguese escudo (since 1998) at 1 PTE = 0.55 CVE
Danish krone	DKK	7.46038	2.25%	1 January 1999	ERM II
Estonian kroon	EEK	15.6466	15%	1 January 1999	ERM II	Formerly pegged to the German Mark (since April 1992) at 1 DEM = 8 EEK, therefore the rate is 1.95583 × 8
Hungarian forint	HUF	282.36	15%	4 May 2001		The forint has been allowed to strengthen (it was at 252.9 Ft/€ on Dec 18, 2006), although it still must stay within the 15% band.
Comorian franc	KMF	491.96775		1 January 1999		Formerly pegged to the French franc (since 23 November 1979), at the end it was 1 FRF = 75 KMF, therefore the rate is 6.55957 × 75
Lithuanian litas	LTL	3.45280	15%		1 January 1999
Pacific franc	XPF	≈ 119.332		1 January 1999		Formerly pegged to the French franc (since September 1949), at the end it was 1 XPF = 0.055 FRF (⇔ 1€ ≈ 119.2649 XPF). Rate redefined (XPF slightly weakened) at 1 XPF = 0.00838 €
Slovak koruna	SKK	38.455	15%	28 November 2005	ERM II	The Slovak koruna has been allowed to strengthen (it was at 34.91 Sk/€ on Dec 18, 2006), although it still must stay within the 15% band.
Slovak koruna	SKK	35.4424	15%	17 March 2007	ERM II	The rate was readjusted.
Central African CFA franc	XAF	655.957		1 January 1999		Formerly pegged to the French franc (since October 17 1948), at the end the rate was 1 FRF = 100 XAF, therefore the rate is 6.55957 × 100
West African CFA franc	XOF	655.957		1 January 1999		Formerly pegged to the French franc (since October 17 1948), at the end the rate was 1 FRF = 100 XOF, therefore the rate is 6.55957 × 100

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