Currency profile
Euro (EUR)
The euro (EUR) is the single currency of the euro area — 20 European Union countries. It is the world’s second most-held reserve currency, divided into 100 cents, and floats freely.
The Euro today
Mid-market · updating…
The euro floats freely; its rate against other currencies is set by the market and by European Central Bank policy.
Exchange-rate regime
Free-floating. The euro floats freely. Its value is set by the market and influenced by European Central Bank monetary policy.
The issuing central bank
The European Central Bank, established in 1998, manages the euro together with the national central banks of the euro area (the Eurosystem).
History
- 1999The euro was introduced as an electronic and accounting currency for 11 EU countries.
- 2002Euro banknotes and coins entered circulation, replacing national currencies such as the mark, franc and lira.
- TodayThe euro is used by 20 EU member states and managed by the European Central Bank.
Coins and banknotes
One euro is divided into 100 cents. Coins: 1, 2, 5, 10, 20 and 50 cents and 1 and 2 euros. Banknotes: 5, 10, 20, 50, 100, 200 euros (the 500-euro note is no longer issued but remains legal tender).
Popular Euro pairs
What moves it
- The euro floats freely; European Central Bank policy and euro-area conditions move it against other currencies.
- It is the second-largest reserve currency, so shifts between it and the dollar are watched worldwide.
Structural facts reviewed 2 August 2026 · reviewed quarterly. Sources: European Central Bank. Live rates are mid-market — see our Methodology and Editorial Policy.