The European currency, also known as the euro (€), is the official currency of the European Union (EU) and is used by 19 of the 27 member states, known as the eurozone. The euro was introduced in 1999 as the currency of account, and physical euro coins and banknotes were introduced in 2002. It replaced the European Currency Unit (ECU) and is managed by the European Central Bank (ECB). The euro is the second most traded currency in the world after the US dollar and is used by more than 340 million people. It is also used as a reserve currency by many countries outside the eurozone. (Current exchange rates can be found here.)
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