WORLD HISTORY

Detailed explanation-1: -The euro is the official currency of 20 European Union countries which collectively make up the euro area, also known as the eurozone. Some EU countries have yet to meet the criteria required to join the euro area while Denmark has opted not to participate. Within the euro area, the euro is the only legal tender.

Detailed explanation-2: -Currently, the euro (€) is the official currency of 20 out of 27 EU member countries which together constitute the Eurozone, officially called the euro area.

Detailed explanation-3: -European Union – Economy Euro is used as the common currency in the Eurozone. Euro is the 2nd most traded currency in the world.

Detailed explanation-4: -On 1 January 1999, 11 EU countries launched the euro as their new common currency. The euro was initially an electronic currency. Euro banknotes and coins were introduced three years later. Today, the euro is the currency of 20 EU countries and over 346 million Europeans.

Detailed explanation-5: -Outside Europe, a number of special territories of EU members also use the euro as their currency. Additionally, over 200 million people worldwide use currencies pegged to the euro. The euro is the second-largest reserve currency as well as the second-most traded currency in the world after the United States dollar.