Euro (EUR) – the meaning and exchange rate of the common currency of the European Union
The euro is the common currency of the European Union and came into circulation on January 1, 2002 Work on its implementation began in the 1970s. The euro is legal tender in 19 of the 27 EU countries. 341 million Europeans live in the euro area.
One euro is divided into 100 cents. There are approximately 1.4 trillion euros in circulation worldwide. It is the second most traded currency in the world – after the dollar.
Euro (EUR) – the meaning and exchange rate of the common currency of the European Union The euro is the common currency of the European Union, which entered into circulation on January 1, 2002. Work on its introduction started in the 1970s. The euro is legal tender in 19 of the 27 EU countries. There are 341 million Europeans living in the euro area. One euro is divided into 100 cents. There are approximately 1.4 trillion euros in circulation worldwide. It is the second most popular currency in commerce in the world – after the dollar. The set of countries where the euro is the currency is commonly referred to as the eurozone, euro zone or euroland. They are: Austria, Belgium, Cyprus, Estonia, Finland, France, Greece, Spain, the Netherlands, Ireland, Lithuania, Luxembourg, Latvia, Malta, l Germany, Portugal, Slovakia, Slovenia and Italy. In addition, four other countries have the euro although they do not belong to the EU – these are: Andorra, Monaco, San Marino, Vatican City. From January 1, 2023 Croatia also joins the eurozone.
