The euro is the currency used by most countries in the eurozone.
The euro is the common currency of the European Union countries that belong to the euro area. Euro banknotes and coins entered everyday circulation on 1 January 2002, replacing national currencies such as the German mark, French franc, and Italian lira in participating states.
The currency is managed within the Eurosystem, which consists of the European Central Bank and the national central banks of euro-area members. The European Central Bank is headquartered in Frankfurt, Germany. The euro is divided into 100 cents.
Not every European Union member uses the euro. Denmark has an opt-out, while several other EU countries have not yet adopted it. Some non-EU territories and countries use the euro through formal agreements or in practice. Euro coins have a common European side and a national side, whereas the designs of euro banknotes are shared across the currency area.