Six EU countries still hold on to their national currencies
Although the euro is used in most EU countries, six member states still rely on their own currencies. Denmark, Poland, Romania, Hungary, the Czech Republic and Sweden have different reasons for staying outside the eurozone.
A single currency makes travelling across Europe easier, yet not every EU country has embraced it. At present, six member states still use their national money, each with its own considerations.
Denmark, a Nordic country, uses the Danish krone, which is firmly pegged to the euro through the European exchange-rate mechanism. At the current exchange rate, one krone is worth 0.13 euro. Denmark currently has no plans to switch.
Poland uses the zloty, with one zloty equivalent to 0.23 euro. According to local authorities, the economy is not yet ready to join the eurozone, so the country is in no hurry.
Romania still uses the leu, and one leu equals 0.19 euro. However, this country has set a goal of adopting the euro within the next three to four years.
Hungary continues to pay with the forint — 100 forints correspond to 0.28 euro. It plans to join the eurozone by 2030, but several reforms are still needed.
The Czech Republic uses the Czech koruna, valued at 0.041 euro per unit. There are no concrete adoption plans here, as public opinion remains divided.
Sweden also has its own currency, the krona, with one krona worth 0.091 euro. Like Denmark, Sweden does not intend to switch, considering its currency stable and self-sufficient.
Latvia adopted the euro on 1 January 2014, replacing the lats. The fixed exchange rate was 1 euro = 0.702804 lats. Latvia became the 18th member of the eurozone. For two weeks, lats banknotes and coins remained valid alongside the euro, but from 14 January the euro became the sole legal tender.
