Greek drachma became Greece's sole currency. Between 1917 and 1920, the Greek government issued paper money in denominations of 10 lepta, 50 lepta, 1 drachma, 2 drachmae, and 5 drachmae. The National Bank of Greece introduced 1000-drachma notes in 1901, and the Bank of Greece introduced 5000-drachma notes in 1928. The Greek government again issued notes between 1940 and 1944, in denominations ranging from 50 lepta to 20 drachmae. In 1922, the Greek government issued a forced loan in order to finance the budget deficit. On April 1, 1922, the government decreed that half of all bank notes had to be surrendered
Greek drachma drachmae = 1 United States dollar. In 1973, the Bretton Woods System was abolished; over the next 25 years the official exchange rate gradually declined, reaching 400 drachmae to 1 U. S. dollar. On 1 January 2002, the Greek drachma was officially replaced as the circulating currency by the euro, and it has not been legal tender since 1 March 2002. The first issue of coins minted in 1954 consisted of holed aluminium 5-, 10- and 20-lepton pieces, with 50-lepton, 1-, 2-, 5- and 10-drachma pieces in cupro-nickel. A silver 20-drachma piece was issued in 1960, replacing the 20-drachma banknote,