The Euro is the currency adopted by the European countries that have decided to join the Monetary Union.
The euro is one of the currencies that make up the most widespread and followed currency exchange in the world: the euro-dollar exchange rate (EURUSD).
The internationally recognized abbreviation for the Euro is EUR, while the symbol of the so-called single currency is €.
Below, there are all the news, analyzes and insights regarding the Euro, its performance in the Forex market and monetary policy decisions, as well as the economic-financial contexts that influence its movements.
The central bank in Europe is the European Central Bank (ECB).
Currently, 19 member states of the European Union have joined the Monetary Union and adopted the Euro as their currency. The countries that use the Euro make up the economic area commonly called the Eurozone.
The euro is the second most traded currency in the Forex market after the US dollar, as well as being one of the most common currencies in world foreign exchange reserves.
Main Euro exchange rates
The Euro is exchanged above all with the main western currencies, therefore we have as main exchange rates of the Euro:
- the Euro Dollar - EURUSD exchange rate
- the Euro Pound - EURGBP exchange rate
- the exchange rate Euro Swiss Franc - EURCHF
Information on the Euro
On 1 January 1999, the Euro (EUR) was officially introduced as the accounting currency, replacing the European unit of account (ECU) at par. The European unit of account was a scriptural currency based on a theoretical basket of currencies rather than a physical currency in and of itself. Initially, eleven countries in the Economic Union replaced their currencies with the euro: Austria, Belgium, Finland, France, Germany, Ireland, Italy, Luxembourg, the Netherlands, Portugal and Spain. Greece followed suit in 2001, Slovenia in 2007, Malta and Cyprus in 2008, Slovakia in 2009, Estonia in 2011, Latvia in 2014 and Lithuania in 2015.
The Euro outside the Eurozone
Some sovereign states, which are not part of the European Union, have adopted the Euro as their main currency, including the Principality of Andorra, the Principality of Monaco, the Republic of San Marino and the Vatican City.
The euro is also used in many territories, departments and sovereign states of the Eurozone countries.
The official spelling of the euro currency is "euro", with a lowercase letter "e"; however, it is now common practice in the industry to write "Euro", with the "E" in capital letters. Many languages have different spellings, which can lead to finding references to the single currency with different characters to the word "euro".
| Euros at a glance | |
|---|---|
| Name | Euro |
| Symbol | € |
| cents | cent, eurocent |
| ISO 4217 code | EUR |
| Central bank interest rate | 0.05% |
| Most common exchange rate | EURUSD |
| Coins | €1, €2, 5cents, 10cents, 20cents, 50cents |
| Banknotes | €5, €10, €20, €50, €100 (rare: €200, €500) |
| Central Bank | European Central Bank (ECB) |
| Website | www.ecb.eu |
