The Euro is the official currency of the Eurozone. The Eurozone is comprised of 17 out of the 27 member states of the European Union.
Subdivisions: 100 Eurocents (Cent – singular)
Coins – 1c, 2c, 5c, 10c, 20c, 50c, €1, €2.
Notes – €5, €10, €20, €50, €100, €200, €500.
Advisory: Due to its relatively young age, the Euro is well guarded against counterfeiting, but in some of the poorer countries €500 notes are quite scarce.
Central Bank: European Central Bank
Mint: It is made in major cities all over the EU
Currency Code: EUR
Reserve Currency Ranking: 2nd
Countries of Use:
Eurozone – Austria, Belgium, Cyprus, Estonia, Finland, France, Germany, Greece, Ireland, Italy, Luxembourg, Malta, the Netherlands, Portugal, Slovakia, Slovenia and Spain.
Non Eurozone – Montenegro, Andorra, Monaco, San Marino, Vatican City, Kosovo.
Nickname: The single currency.
Interesting Fact: When the Euro entered circulation in January 2002, the Irish shred their old banknotes and packed them into blocks to be buried in landfill sites. The Germans used their Deutschmarks to fuel heating systems. And old Spanish coins were sent to be melted down and recycled as new British coins.
- On 1 January 2007 Slovenia became the first ex-communist country to join the currency.