What Is the Euro?
The Euro (EUR) is the official currency of most countries in the European Union (EU), used by millions of people across the continent. It was introduced in electronic form in 1999 and in physical banknotes and coins in 2002 to create a single, stable currency for participating EU nations. The Euro is managed by the European Central Bank (ECB) and the Eurosystem, which set monetary policy, regulate supply, and work to maintain price stability.
The Euro simplifies trade and travel among member countries by eliminating the need for currency exchange. It is one of the world’s most widely held and traded currencies, alongside the US dollar, and plays a key role in global finance and commerce. The name “euro” reflects its European identity, and its symbol is €.
While the Euro itself is fiat money not backed by physical commodities, its use across many economies gives it broad acceptance and influence in international markets.
