What Is the Currency of Ireland?
Understand the currencies used across the island of Ireland, from the Republic's official tender to Northern Ireland's distinct currency and past usage.
The Republic of Ireland uses the Euro (€) as its official currency. The Euro is recognized by the currency code EUR.
The Euro as Ireland’s Currency
Ireland officially introduced physical Euro banknotes and coins on January 1, 2002. This transition aligned Ireland with other Eurozone member states, fostering a common economic area.
Euro banknotes are available in denominations of €5, €10, €20, €50, €100, €200, and €500, although the higher denominations like €200 and €500 are less commonly used in daily transactions. These banknotes feature common designs across all Eurozone countries, depicting architectural styles such as windows and gateways on the front and bridges on the back. These designs symbolize openness and cooperation among European nations.
Euro coins are issued in denominations of 1, 2, 5, 10, 20, and 50 cents, as well as €1 and €2. Each coin has a common side that displays a map of Europe, reflecting the unity of the European Union. The reverse side, known as the national side, features designs unique to the issuing country; Ireland’s Euro coins notably display a Celtic harp, a traditional symbol of the nation.
Ireland’s Previous Currency
Before the adoption of the Euro, the Republic of Ireland used the Irish Pound, also known as the Punt. This currency had the ISO 4217 code IEP and was represented by the symbol £ or IR£.
The Irish Pound was officially replaced by the Euro on January 1, 2002. A dual circulation period followed, allowing for a gradual transition, with the Irish Pound ceasing to be legal tender on February 9, 2002. Even today, the Central Bank of Ireland continues to exchange old Irish Pound notes and coins for Euros at a fixed conversion rate.
Currency in Northern Ireland
Northern Ireland, despite being geographically located on the island of Ireland, is part of the United Kingdom and therefore uses a different currency than the Republic of Ireland. The official currency in Northern Ireland is the Pound Sterling (GBP). This means that travelers moving between the Republic of Ireland and Northern Ireland will need to exchange currencies.
Pound Sterling banknotes are issued by the Bank of England, but uniquely, several banks in Northern Ireland also issue their own distinct banknotes. While these local banknotes may look different, they hold the same value as Bank of England notes and are legal tender throughout Northern Ireland. However, outside of Northern Ireland, these regionally issued notes might not be as readily accepted in other parts of the United Kingdom.