Jan 30, 2020 · Countries currently using the euro: Andorra (not an EU member) Austria Belgium Cyprus Estonia Finland France Germany Greece Ireland Italy Kosovo (not all countries recognize Kosovo as an independent nation) Latvia Lithuania Luxembourg Malta Monaco (not in the EU) Montenegro (not in the EU) The Netherlands Portugal San Marino (not in the EU)
- Matt Rosenberg
- Geography Expert
- Administration and Control of Monetary Policy
- Exchange Rates
- Amount of Money in Circulation
Origins of the Euro
The Euro was introduced to financial markets on January 1, 1999. Coins and banknotes entered circulation on January 1, 2002. After the Maastricht Treaty in 1992, most EU member states are obliged to adopt the Euro after meeting monetary and budgetary requirements. However the UK and Denmark negotiated exemptions, and Sweden rejected the Euro in a referendum. All new members of the European Union since 1993 have pledged to adopt the Euro. After the US financial crisis in 2008, fears rose over...
Origins of the US Dollar
The US constitution provided the United States Congress with the power “to coin money.” The first dollar coins were issued by the United States mint in 1792, and were similar in size and composition to the Spanish dollar, and the Spanish dollar and Mexican dollar remained legaltender until 1857, as did the coins of various English colonies.
The Euro is managed and administrated by the European Central Bank (ECB) in Frankfurt. It is printed, minted and distributed in all member states by the Eurosystem, a network of the central banksof member countries. The US dollar is managed by the Federal Reserve.
The Euro is the official currency of the Eurozone, which is made up of 17 of the 27 member states of the European Union. These countries are Austria, Belgium, Cyprus, Estonia, Finland, France, Germany, Greece, Ireland, Italy, Luxembourg, Malta, the Netherlands, Portugal, Slovakia, Slovenia and Spain. It is the sole currency of these countries, and ...
This table shows how many Euros could be exchanged for 1 US dollar from 1999 to 2011. For much of the past decade, 1 Euro has always been worth more than 1 US dollar.
The Euro is the second largest reserve currency and the second most traded currency in the world. As of September 2012, there were more than €915 billionin circulation, making it the currency with the highest combination of banknotes and coins in circulation in the world. The US government keeps over $800 billion in cash in circulation. It is the l...
- 1c, 2c, 5c, 10c, 20c, 50c, €1, €2
- 1.9% (November 2018)
- EUR (num. 978)
- Euro: 1 EUR = 1.13 USD. As of November 2021, the euro (EUR) to U.S. dollar (USD) exchange rate was about 1 euro for $1.13. The U.S. dollar generally strengthened against the euro in 2020 and 2021.
- Cayman Islands Dollar: 1 KYD = 1.20 USD. The Cayman Islands dollar (KYD) was set via a fixed peg at 1.20 USD back in the 1970s. That seems like an easy way to make a currency worth more than the U.S. dollar, but it is harder than it looks.
- British Pound: 1 GBP = 1.34 USD. Bank of England (BOE) policymakers generally kept pace with developments in other countries over the past several decades and kept the pound more valuable than the U.S. dollar.
- Jordanian Dinar: 1 JOD = 1.41 USD. Like the Cayman Islands Dollar, the Jordanian Dinar (JOD) has been pegged to the U.S. dollar at a higher value. The idea was that a stable exchange would help to attract U.S. investment in Jordan.
Currencies pegged to the US dollar within narrow band. The international status and usage of the euro has grown since its launch in 1999. When the euro formally replaced 12 currencies on 1 January 2002, it inherited their use in territories such as Montenegro and replaced minor currencies tied to the pre-euro currencies, such as in Monaco.
- Understanding The Countries That Use The U.S. Dollar
- Official Use of The U.S. Dollar
- Quasi-Use of The U.S. Dollar
- The Bottom Line
While its strength as a powerhouse may not be a shock, it may come as a surprise that the dollar is also the official currency of a host of U.S. territories and other sovereign nations around the world. It's also the quasi-official currencyof many other nations that commonly accept U.S. dollars, in addition to their local currency. If you're an avi...
The U.S.'s first Federal Reserve note, a $10 bill, was printed in 1914, one year after the Federal Reserve Bank was created.1 Although the $1 U.S. note was issued in 1862, it wasn't until 1963 when the $1 Federal Reserve note, featuring George Washington, was issued.2 In 1944, the United States and its allies formed the Bretton Woods Agreement to c...
The U.S. dollar is also widely used throughout the world as a quasi-currency of exchange. While it should be no surprise that the U.S. dollar is widely accepted for commerce in both Canada and Mexico, the U.S. dollar is also accepted in a host of tourist destinations including the Bahamas, Barbados, Bermuda, the Cayman Islands, Sint Maarten, St Kit...
The U.S. dollar is the most widely used currency in the world because of its stability. Barring some unforeseen catastrophe, the U.S. dollar will likely remain the global currency of choice until such a futuristic time when a global digital moneysystem is invented and accepted. People planning on using the U.S. dollar outside the United States shou...
- Troy Adkins