Euro (EUR)

The euro (EUR, symbol €) is the official currency of the Eurozone, a monetary union comprising 20 of the 27 member states of the European Union. Managed by the European Central Bank, the euro was introduced as an accounting currency on January 1, 1999, and as physical banknotes and coins on January 1, 2002, replacing national currencies like the Deutsche Mark and French franc. It is subdivided into 100 cents and ranks as a major reserve currency.