What is Greek money called? This question often arises among tourists and those interested in the Greek economy. Greek money, commonly referred to as the Euro, is the official currency of Greece and is used throughout the country. However, the history of Greek currency dates back much further than the Euro, with various coins and banknotes being used over the centuries.
Greece has a rich history, and its currency has evolved significantly over time. In ancient Greece, coins were first introduced around the 7th century BC. These coins were typically made of bronze and featured various symbols and inscriptions. The most famous of these ancient Greek coins were the drachma, which was the standard unit of currency.
The drachma was named after the ancient Greek city-state of Athens, where it was first used. Over time, the drachma became the primary currency used throughout the Greek-speaking world. It was divided into smaller units, such as the obol (1/6th of a drachma) and the stater (1/20th of a drachma).
As the Roman Empire expanded, the drachma was adopted as the currency of the empire’s Greek provinces. The Roman Empire introduced its own currency, the denarius, which was a silver coin. The denarius eventually replaced the drachma as the primary currency in Greece.
After the fall of the Roman Empire, Greece experienced a period of political fragmentation and various rulers, including the Byzantine Empire, the Frankish Empire, and the Ottoman Empire, all issued their own currencies. The Byzantine Empire used the gold solidus, while the Ottomans used the Turkish lira.
In the 19th century, Greece adopted the drachma as its national currency. The modern drachma was introduced in 1832 and was initially divided into 100 lepta. The drachma remained the official currency until the introduction of the Euro in 2001.
The Euro, which is the currency of the European Union, was introduced on January 1, 2002. Greece was one of the first member states to adopt the Euro, replacing the drachma on that date. The Euro is now used in all 19 countries that make up the Eurozone, including Greece.
While the Euro is the official currency of Greece, the country’s history and culture are deeply rooted in its ancient coins and banknotes. Many collectors and enthusiasts are interested in the various coins and banknotes that have been used throughout Greece’s long and storied history. From the ancient drachma to the modern Euro, Greek money has played a significant role in the country’s economic and cultural development.
