asked Her Majesty's Government:What is the face value of the highest value banknote currently in circulation in each of the countries in the European Union (indicating in each case the sterling equivalent value at current exchange rates); and what face value is planned for the highest value euro note. [HL 3229]
The face value of the highest value banknotes in circulation at May 1998 in each of the European Union countries is set out in the table below. The table also shows, rounded to the nearest £5, the sterling equivalent value at the market exchange rate as at 31 July 1998.It has been agreed that the highest value euro bank note will be a 500 euro note.
| Highest value banknote | Sterling value (rounded to the nearest £5) | ||
| Belgium | BEF | 10,000 | 165 |
| Denmark | DKK | 1,000 | 90 |
| Germany | DEM | 1,000 | 345 |
| Greece | GRD | 10,000 | 20 |
| Spain | ESP | 10,000 | 40 |
| France | FRF | 500 | 50 |
Highest value banknote
| Sterling value (rounded to the nearest £5)
| ||
| Ireland | IEP | 100 | 85 |
| Italy | ITL | 500,000 | 175 |
| Luxembourg | LUF | 5,000 | 85 |
| Netherlands | NLG | 1,000 | 305 |
| Austria | ATS | 5,000 | 245 |
| Portugal | PTE | 10,000 | 35 |
| Finland | FIM | 1,000 | 115 |
| Sweden | SEK | 1,000 | 75 |
| United Kingdom | GBP | 50 | 50 |