Dáil Éireann Debate, Tuesday - 17 January 2017
224. Deputy Michael McGrath asked the Minister for Finance the estimated amount of cash to be still unaccounted for in respect of each coin and note of the Irish punt; the arrangements that apply; the amount exchanged for euro in each year since 2010; and if he will make a statement on the matter. [41063/16]
View answerI am informed by the Central Bank that the value of Irish Punt currency outstanding as of 31 December 2016 is as follows:
Banknotes €227,125,638.68
Coin €123,741,177.34
Following the publication of the Irish Pound Notes and Coins (Cessation of Legal Tender Status) Order 2001 (S.I. No. 313/2001, available here:http://www.irishstatutebook.ie/eli/2001/si/313/made/en/print), legal tender status was withdrawn from Irish pound banknotes and coins with effect from midnight on 9th February 2002. However, Irish banknotes and coin can be exchanged for euro at the Central Bank of Ireland either by post or by use of a drop-box facility at its Head Office. Once received by the Central Bank's Currency Issue Division, the notes/coin will be authenticated/verified and the euro equivalent reimbursed to the customer by way of electronic transfer to the customer's nominated bank account. The customer must furnish the Central Bank with valid photographic identification. The Central Bank of Ireland may forward details, including copies of ID received, of all payments for the exchange of IEPs and Euro to An Garda Síochána. Details may also be provided to the Revenue Commissioners.
The following table, provided by the Central Bank, shows the values of the Irish Punts exchanged for Euro since 2010, which are as follows:
|
- |
€'000 |
€'000 |
|
Banknotes |
Coin |
|
|
2010 |
2,839.25 |
344.10 |
|
2011 |
2,375.73 |
350.45 |
|
2012 |
2,477.94 |
317.43 |
|
2013 |
1,625.84 |
236.17 |
|
2014 |
1,469.83 |
283.15 |
|
2015 |
1,355.50 |
213.32 |
|
2016 |
1,284.09 |
194.80 |
