euro

The Euro (EUR) is the currency used by the European Union (EU) and its member countries. It was introduced in 1999 as an electronic currency and began circulating as physical notes and coins in 2002. The Euro is managed by the European Central Bank (ECB), which sets monetary policy for the Eurozone and is responsible for issuing and controlling the supply of the currency. Currently, 19 out of 27 EU member states have adopted the Euro as their official currency. The countries that do not use the Euro as their official currency are Bulgaria, Croatia, Czech Republic, Denmark, Hungary, Poland, Romania, Sweden, and the United Kingdom. The Euro is the second most traded currency in the world after the US dollar.