In next year's January sales, prices may appear to go up instead of down as the changeover to the euro begins. Irish citizens will share a new currency with almost 300 million other Europeans in 11 countries.

The changeover to the euro will be swift but there is plenty of time to prepare for the new currency. The irrevocable conversion rate of the Irish punt to one euro is 0.787564.

There's a lot more to the changeover than pricing goods and services in euros. From January 1st next, wages and social welfare payments will be made in euros, all assets will be valued in euros and household bills will be priced and paid in euros.

The Irish pound will cease to be legal tender within six weeks of the euro's introduction. The dual circulation period will be brought to an end at midnight on Saturday, February 9th. Bidding farewell to the old currency could be an excellent excuse for a party.

Consumers can prepare for the changeover now by paying attention to euro values on bank statements, till receipts, bills and wherever they are marked.

There will be 940 million coins and 240 million notes in circulation in the Republic of Ireland next year. Half of the coins have already been minted and some of the notes are ready.

All of the launch stock has to be ready before the end of this year and the Central Bank is in the process of choosing a distribution agent for the new currency.

In September of this year, the final appearance of the euro bank-notes, including the security features, will be revealed. The notes will come in denominations of 5, 10, 20, 50, 100, 200 and 500.

The seven euro bank notes will be identical in all countries and will be legal tender throughout the euro area. The 12 participating countries are Belgium, Germany, Greece, Spain, France, the Republic, Italy, Luxembourg, the Netherlands, Austria, Portugal and Finland.

The eight euro coins will each have one common side, identical throughout the 12 countries, and one national side. All the euro coins will be legal tender and interchangeable in the euro area.

Mr Philip Hamell of the Euro Changeover Board said the public can help the changeover by using up hoarded coins before the end of the year.

He pointed out that although the dual circulation period is short, it will still be possible to exchange notes and coins in commercial banks until the end of June 2002. The Central Bank will exchange notes and coins for some time after that.