European Euro | EUR | Euro Currency | Cent

European Euro:

Euro is the official currency of European Union. Currently 19 out of 28 member states of European Union are using the euro. Austria, Belgium, Cyprus, Estonia, Finland, France, Germany, Greece, Ireland, Italy, Latvia, Lithuania, Luxembourg, Malta, the Netherlands, Portugal, Slovakia, Slovenia and Spain together create what is called the Eurozone, a region where the euro serves as a common national currency for all of these separate nations.

After Unites States dollar, it is the second most traded currency in the foreign exchange market and one of the most powerful currencies used by more than 320 million Europeans in twenty-four countries.  The euro is subdivided into 100 equal parts called cents.

On January 1, 1999, the euro was introduced by the EU in to the financial community, replacing the former European Currency Unit (ECU), a basket of the currencies of the European Community member states, used as the unit of account of the European Community at a ratio of 1:1 and physical euro coins and paper notes were introduced on January 1, 2002. European System of Central Banks (ESCB) prints and manages the supply of Euro currency. As of January 2017 Euro has one of the highest combined values of banknotes and coins in circulation in the world, having surpassed the U.S. dollar.

European Euro Currency Information:

Code:

 EUR

Sub unit:

1 euro/100 = cent

Bank Notes:

€5, €10, €20, €50, €100, €200, €500 (until the end of 2018)

Coins:

1c, 2c, 5c, 10c, 20c, 50c, €1, €2

Central bank:

European Central bank

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Preceding national currencies of the Eurozone:

• Austrian Schilling (ATS)

• Belgian Franc (BEF)

• Cypriot pound (CYP)

• Dutch guilder (NLG)

• Estonian kroon (EEK)

• Finnish markka (FIM)

• Franch franc (FRF)

• German Mark (DEM)

• Greek drachma (GRD)

• Irish pound (IEP)

• Italian lira (ITL)

• Latvian Lats (LVL)

• Lithuanian litas (LTL)

• Luxembourgish franc (LUF)

• Maltese lira (MTL)

• Monegasque franc( MCF)

• Portuguese escudo (PTE)

• Sammarinese lira (SML)

• Slovak koruna (SKK)

• Slovenian tolar (SIT)

• Spanish peseta (ESP)

• Vatican lira (VAL)

Most traded currencies:

• United States dollar (USD)

• Euro (EUR)

• Japanese yen (JPY)

• Pound sterling (GBP)

• Australian dollar (AUD)

• Canadian dollar (CAD)

• Swiss franc (CHF)

• Renminbi (CNY)

• Swedish krona (SEK)

• New Zealand dollar (NZD)

• Mexican peso (MXN)

• Singapore dollar (SGD)

• Hong Kong dollar(HKD)

• Norwegian krone (NOK)

• South Korean won (KRW)

• Turkish lira (TRY)

• Russian ruble (RUB)

• Indian rupee (INR)

• Brazilian real (BRL)

• South African rand (ZAR)