€350 Million Of Old Irish Poun...

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€350 Million Of Old Irish Pounds Still Missing After 2002 Euro Switch

Niall Colbert
Niall Colbert

3:46 PM - 11 Jan 2021



Around 350 million euro worth of old Irish pounds is still in circulation and has yet to be converted since the currency switch in 2002.

That's according to the Central Bank, which says just under €400 thousand worth of the old notes and coins was switched last year.

That was made up of approximately €281,000 in Irish pound banknotes and €117,000 of the pound coins.

Those who still have Irish pounds can apply to the Central Bank to exchange it, with one pound worth €1.27.

The Central Bank says its the walk-in teller service at our North Wall Quay building in Dublin has been closed since public health restrictions were introduced in March 2020.

However, the public can continue to exchange old IEP via the usual channels of the retail branch network or registered post.

There is currently no time limit on the exchange service.

Central Bank Director of Currency, Paul Molumby, says typically old Irish pound bank notes are presented to them in a "reasonable standard".

He says they then want to verify the validity of the notes and its authenticity.

Mr Molumby says the Central Bank has "certainly got stories of old Irish pound notes being found when gardens are dug up or when old clothes are found, so they can be presented in a variety of standards."



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