The euro is the currency used by most countries in the European Union.
The euro is the official currency of the eurozone, the group of EU member states that have adopted it. Euro banknotes are shared across the euro area, while euro coins have a common side and a national side. The currency is divided into 100 cents.
The euro was introduced for electronic and accounting purposes in 1999. Euro notes and coins entered everyday circulation on 1 January 2002, replacing national currencies in the first participating countries. The European Central Bank, based in Frankfurt, manages monetary policy for the euro area.
Not every EU member uses the euro. Denmark has an opt-out, while countries such as Poland, Sweden, and Hungary retain their national currencies. Several non-EU territories and countries also use the euro through agreements or unilateral adoption, so “European currency” and “EU currency” are not exactly interchangeable terms.