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Money & Currency Information
 The
following is a listing by country of money and currency
denominations for the Arctic region. Travelers seeking the
latest currency and exchange rate information should visit:
http://www.xe.com
US - Alaska
As with the rest of the USA, the unit of currency is the
US dollar. Coins include the penny (1¢), nickel
(5¢), dime (10¢), quarter (25¢) and rarer
50¢ and $1 coins. Notes come in denominations of $1,
$5, $10, $20, $50, and $100.
Changing foreign currency in Alaska, especially in Arctic
regions, is nigh on impossible. Bring US cash or traveler
checks or international credit card. Debit cards are accepted
at many busineses and automatic teller machines are fairly
common in cities and towns and most accept a variety of
cards, including Cirrus, Plus, Exchange, and Excel.
Canada
The unit of currency is the Canadian dollar. Coins
include the penny (1¢), nickel (5¢), dime (10¢),
quarter (25¢), $1 (loonie), and $2 (twoonie). Notes
come in denominations of $5, $10, $20, $50, and $100.
Changing money is best done through companies specializing
in international transactions (Thomas Cook or American Express),
at banks, or even at hotels (though exchange rates there
are likely to be higher). Teller machines (ATMs) are everwhere
and, at some businesses, debit cards may be used. Most major
credit cards are accepted. It is important to note the GST
(general sales tax) adds 7% to just about every product
and it is added on top of territorial or provincial sales
taxes. This can amount to a total tax nearing 15% in some
cases.
Finland
The Finnish unit of currency is the EURO or EUR.
The euro was introduced to world financial markets as an
accounting currency in 1999 and launched as physical coins
and banknotes in 2002. All EU member states are eligible
to join if they comply with certain monetary requirements,
and eventual use of the euro is mandatory for all new EU
members. The euro coins are €2, €1, 50c, 20c,
10c, 5c, 2c and 1c (known as tinies for their small size),
though the latter two are not minted in Finland or the Netherlands
(but are still legal tender). Many shop owners in all of
the Eurozone prefer having all their prices end in 0 or
5 cents, so that 1c and 2c coins are not needed.
All euro banknotes have a common design for each denomination
on both sides. Notes are issued in €500, €200,
€100, €50, €20, €10, €5. Some of
the higher denominations, such as €500 and €200,
are not issued in a few countries, though are legal tender.
Automatic teller machines are the best way to obtain local
cash although travelers checks area accepted most everywhere.
Exchange rates are lower at exchange facilities than at
banks. Finnish post offices will also exchange currency
and they have longer hours.
Greenland
The unit of currency is the Danish krone (Dkr).
One krone is equal to 100 ore. 25 and 50 ore coins
are used as well as 2, 5, 10, and 20 krone pieces. Notes
include the 50, 100, 500, and 1000 krone bills.
Greenland has two banking institutions, Nuna Bank and Gronlandsbanken,
which have branches in most towns. Foreign currencies can
be exchanged at these branches as well as at larger hotels.
Neither Kangerlusuaq nor Kulusuk airport have exchange services,
though this probably will change. So be sure to bring enough
Danish currency with you to reach your next destination.
Iceland
The unit of currency is the krona (Ikr) which
is divided into 100 aurar. Coins include the 1, 5,
10, 50, and 100 krona denominations. Paper notes come in
500, 1000, 2000, 5000 krona bills. Foreign currency may
be exchanged at any bank, most of which charge a small commission.
Keflavik International Airport does exchanges after hours.
Norway
Norway's unit of currency is the krone (Nkr) and
it equals 100 ore. 50 ore and 1, 5, 10, and 20 krone
coins are used. Notes come in Nkr50, 100, 200, 500, and
1000 denominations.
Post Offices, and banks handle currency exchange and travelers
checks with Post Offices generally offering the best rates,
though there are service fees attached. ATMs are found at
most banks and shopping centers and they accept most credit
cards.
Russia
The Russian currency is the ruble, which is divided
into 100 kopecks. Spiraling inflation has resulted
in rapidly changing notes and denominations. Many businesses
happily accept US dollars or german Deutschmarks. Traveler's
checks are not universally accepted and therefore, not recommended.
It is best to carry cash in several different locations
on your person and in your baggage. All your cash must be
declared when you enter the country; any surplus you have
upon departure will be confiscated, although rubles may
be changed back into foreign currency.
Banks and exchange offices offer similar exchange rates
as well as post offices. In small towns, it is wise to have
your passport, visa, and customs information handy at the
exchange office.
Sweden
The unit of currency is the Swedish krona (Skr)
which comes in coins of 50 ore and Skr1, 5, and 10
denominations. Notes are Skr20, 100, 150, 500, and 1000.
Prices are rounded to the nearest 50 ore.
Currency and traveler check exchange in Sweden is efficient
and generally hassle-free. Forex, found in most cities,
offers lower service charges but slightly higher rates.
Banks and Post Offices charge Skr50 per transaction but
have lower rates. ATMs accept most international cards.
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