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Currency history

Modern Greek drachma — 1833 to euro continuity

Dates in use
Introduction and ending not established
Ancestry branch
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Its place in the family

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Modern Greek drachma — 1833 to euro continuity: documented and qualified family connections PARENTS THIS CURRENCY CHILDREN Greek phoenixGreek phoenix 1833 · DocumentedDocumented connection · 1833 Modern Greek drachma — 1833 to euro continuityModern Greek drachma Currency history Later adoption · see history below

Parents 1

Modern Greek drachma

This currency

Children 0

Later adoption of an existing currency is explained below.

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The story

The surviving evidence establishes this unit of account, but a fuller narrative is still being developed. Its known connections are shown above; the research page documents what is established and what remains uncertain.

Replacement by an existing currency

This conversion belongs to the history of the retiring unit. It does not make that unit an ancestor of the currency adopted.

Turning points

Currency replacement

Otto’s decree replaced the phoenix with the drachma. [1]

Name revival

The modern drachma deliberately reused the ancient Greek currency name. No continuous ancient-to-modern currency or fixed conversion asserted. [2]

Redenomination

The postwar drachma replaced 50 billion occupation-era drachmas. Date of the first postwar banknotes; the underlying law is dated November 10, 1944. [3]

Redenomination

One new drachma replaced 1,000 postwar drachmas. [4]

Euro monetary substitution

1 EUR = 340.750 GRD. Greece: euro adoption January 1, 2001; cash January 1, 2002. Regulation 974/98 substitutes the euro for each participating state’s currency on its adoption date; cash changeover is separately defined. [5] [6] [7]

Euro cash changeover

Greece: euro adoption January 1, 2001; cash January 1, 2002. [6]

Sources and evidence

  1. Alpha Bank Numismatic Collection · Silver drachma of King Otto
  2. Alpha Bank Numismatic Collection · Silver drachma of King Otto
  3. Bank of Greece · Drachma banknotes; Bank of Greece · Drachma coins
  4. Bank of Greece · Drachma coins
  5. Council of the European Union · Council Regulation (EC) 2866/98 — consolidation at 1 January 2026
  6. Council of the European Union · Council Regulation (EC) 974/98 — consolidation at 1 January 2026
  7. Council of the European Union · Council Regulation (EC) 974/98 — consolidation at 1 January 2026

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Cite this page

“Modern Greek drachma — 1833 to euro continuity.” The Family Tree of Money. © Field Technologies, Inc. Updated 2026-10-13; data version v44. https://familytreeofmoney.org/currency/T-FTM000798.html

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