Drachma

The drachma (Greek: δραχμή Modern: [ðraxˈmi], Ancient: [drakʰmέː];[n 1] pl. drachmae or drachmas) was the currency used in Greece during several periods in its history: An ancient Greek currency unit issued by many Greek city states during a period of ten centuries, from the Archaic period throughout the Classical period, the Hellenistic period up to the Roman period under Greek Imperial Coinage. Three modern Greek currencies, the first introduced in 1832 by the Greek King Otto (Όθων) and the last replaced by the euro in 2001 (at the rate of 340.75 drachmae to the euro). The euro did not begin circulating until 2001 but the exchange rate was fixed on 19 June 2000, with legal introduction of the euro taking place in January 2002.[citation needed]