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The euro (symbol: €; currency code: EUR) is the official currency of 20 of the 27 member states of the European Union. This group of states is officially known as the euro area or, more commonly, the eurozone. The euro is divided into 100 euro cents.
Mar 6, 2024 · euro, monetary unit and currency of the European Union (EU). It was introduced as a noncash monetary unit in 1999, and currency notes and coins appeared in participating countries on January 1, 2002. After February 28, 2002, the euro became the sole currency of 12 EU member states, and their.
Official EU currency. The euro is the official currency of 20 European Union countries which comprise the Eurozone. Read more here.
The widespread currency floats and devaluations set back aspirations for EMU. [4] However, in March 1979 the European Monetary System (EMS) was created, fixing exchange rates onto the European Currency Unit (ECU), an accounting currency, to stabilise exchange rates and counter inflation.
After a decade of preparations, the euro was launched on 1 January 1999: for the first three years it was an ‘invisible’ currency, only used for accounting purposes and electronic payments. Coins and banknotes were launched on 1 January 2002, and in 12 EU countries the biggest cash changeover in history took place.
The euro is a beacon of stability and a symbol of European unity. It’s also one of the most trusted currencies in the world. Here at the European Central Bank, we work to safeguard its value. The euro banknotes and coins in our pockets are an everyday reminder of what the European Union means for us: greater freedom, convenience and ...
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 pre-euro currencies, such as in Monaco.
