Dáil Éireann Debate, Thursday - 21 June 2012
37 Deputy Kevin Humphreys asked the Minister for Finance the losses the Central Bank of Ireland has made on the exchange of punts to euro since 2002 taking into account the original provision of €60 million in 2002 for future transactions; and the total exchange of punt notes and coins respectively since that provision was made; and if he will make a statement on the matter. [30099/12]
View answerI refer the Deputy to the reply I provided yesterday to his question on the policy of exchanging Irish pound bank notes and coin for euro since the Irish pound ceased to be legal tender on 9 February 2002. That reply sets out the background to the policy and how the redemption of Irish pound bank notes and coin has been accounted for by the Central Bank. With regard to the total value of Irish pound bank notes and coin redeemed to date, I am informed by the Central Bank that Irish pound bank notes to the value of €485.4 million and Irish pound coin to the value of €89.4 million was redeemed between 9 February 2002 and 31 May 2012. Of the Irish pound bank notes, notes to the value of €65.4 million were redeemed between the end of 2002 and 31 May 2012.
