The franc was the currency of Belgium until 2002 when the euro was introduced into circulation. It was subdivided into 100 centiem (Dutch), centimes (French) or Centime (German). Following independence from the Kingdom of the Netherlands, the new Kingdom of Belgium in 1832 adopted its own franc, equivalent to the French franc, followed by Luxembourg in 1848 and Switzerland in 1850. Newly-unified Italy adopted the lira on a similar basis in 1862. Like 10 other European currencies, the Belgian/Luxembourgish franc ceased to exist in January 1, 1999, when it became fixed at 1 EUR= 40.3399 BEF/LUF, thus a franc was worth € 0.024789. Old franc coins and notes lost their legal tender status in February 28, 2002. The National Bank of Belgium started issuing these 1 Belgian Franc banknotes in 1914. They were removal from circulation in 1914. The Belgian banknote of un franchas a simple design.