The TRAVELER'S JOURNAL: November twenty-seventh, looking ahead to Euros.

The turmoil of recent months notwithstanding, five weeks from today, a new world currency will debut. On January first, following centuries of discussion and a decade of planning, the euro officially replaces the traditional monetary units of twelve European nations. And starting March first, the Austrian schilling, Belgian franc, Finnish markka, French franc, German mark, Greek drachma, Irish punt, Italian lire, Luxembourg franc, Dutch guilder, Portuguese escudo and Spanish peseta will no longer be legal tender. The only places those bills and coins will be accepted are for exchange at banks, and then only for one month at no charge. After that, commercial banks can levy a fee for the transaction.

Euros, which are now worth about 90 cents U.S., have been used in electronic transactions for two years, but bills and coins are only now being distributed. Each euro is divided into 100 cents. Paper money, which will be identical in all nations, is printed in seven denominations, ranging from five to five hundred euros, each a different color and size. There will be eight denominations of coins, one and two euros, and one, two, five, ten, twenty and fifty euro cents. Unlike the bills, each coin will have one country specific face.

The actual change will be more complicated for citizens of the affected countries than for travelers, who will only have to carry one currency across much of Europe. While considerable national color and character will fade away, the arrival of the euro is a milestone in simplifying international commerce and further continental cooperation.

FMI For more information on euros, www.europa.eu.int/euro

For currency conversions by mail, International Currency Express 888-278-6628 or www.foreignmoney.com

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