Joining the European Union, Slovenia decided to adopt its single currency the euro: on 28 June 2004 our country entered the exchange rate mechanism (ERM II) and in less than two years met all convergence criteria.

Upon the proposal of the European Commission, the Council of the European Union composed by finance ministers after discussing with the European Parliament and after the discussion in the European Council with a qualified majority on 11 July 2006 confirmed the decision on euro adoption in Slovenia and set the irrevocable exchange rate between the tolar and the euro: 1 € = 239,640 SIT.

On 1 January 2007 the euro became legal tender in Slovenia, which became the first of the new EU member states to adopt the euro and the 13th member state of the euro area.

Preparations for euro adoption in Slovenia were led by the Coordinating Committee, which was set up on the initiative of the Ministry of Finance and the Bank of Slovenia on Slovenia’s entering the ERM II. Members of the Coordinating Committee are: the Bank Association of Slovenia, the Chamber of Commerce and Industry, the Insurance Supervision Agency, the Securities Market Agency, the Slovene Consumers' Association, the Slovenian Insurance Association, the Ljubljana Stock Exchange, the Central Securities Clearing Corporation, the Ministry of the Economy, the Chamber of Crafts, the Slovenian Institute of Auditors and the Statistical Office of the Republic of Slovenia. For more information on the national project of euro adoption go to http://www.evro.si/en.