Vitamin D! The devaluations of 1957 and 1967


The purpose of the seasonal exhibition is to explain the background to the devaluations in Finland of 1957 and 1967, how the devaluations were brought about and their effect.

The exhibitions at to enable the visitor of today to understand the monetary policy environment of a time when parliamentary turnover was so frequent that the average age of a government was only a year.

In the post-war years the Bank of Finland found it had to adjust the external value of the markka countless times. By joining the Exchange Rate Mechanism (ERM) in 1996, stability was brought to the Finnish currency's value. The euro was adopted, initially as scriptural money in 1999, and subsequently the cash changeover was made at the beginning of 2002.

The title of the exhibition, with its reference to 'Vitamin D', does not seem to have been used to refer to the devaluations of the 1950s and 60s, but by the 1980s it had become a firm part of the economic jargon of the time.

The exhibition ran from 27 October 2009 to 31 December 2010.

Klaus Waris ja Mauno Koivisto

The Governor of the Bank of Finland, Mr Klaus Waris, and the Minister of Finance, Mr Mauno Koivisto, 1967. Bank of Finland archives.