What is euro currency?

The euro is the official currency used by the institutions of the European Union and is currently used by 19 of the 27 European Union countries. It was introduced in 1999 as an electronic currency and later in 2002, euro banknotes and coins were introduced for use in everyday transactions.

The euro is currently the second most traded currency in the world after the US dollar and is used by over 343 million people in the Eurozone. The currency is symbolized by the sign € and is divided into 100 cents.

The European Central Bank (ECB) is responsible for overseeing the monetary policy of the eurozone countries and maintaining price stability. The euro is used not only for domestic transactions but also for international trade and investment.

Despite its widespread use, the euro has faced some challenges in recent years, including economic disparities between member countries and concerns about the sustainability of the eurozone in the face of future crises.