Euro states; it was not a currency in its own right. They could not be set earlier, because the ECU depended on the closing exchange rate of the non-euro currencies (principally the pound sterling) that day. The procedure used to fix the conversion rate between the Greek drachma and the euro was different, since the euro by then was already two years old. While the conversion rates for the initial eleven currencies were determined only hours before the euro was introduced, the conversion rate for the Greek drachma was fixed several months beforehand. The currency was introduced in non-physical form (traveller's
20 euro cent coin denomination of the coin from its design, Greece is exempt from this requirement as it uses a non-Latin alphabet. In addition, there are several EU states that have not yet adopted the euro. While some of them have already agreed upon their coin designs, these are not yet minted as it is not known exactly when they will adopt the currency. See enlargement of the Eurozone for expected entry dates of these countries. 20 euro cent coin The 20 euro cent coin (€0.20) has a value of one fifth of a euro and is composed of an alloy called nordic