Since 2024, the euro (€) is the official currency of 20 European Union member states. You’ll spot it abbreviated as EUR in financial documents, with the symbol € usually placed before the amount (like €1.50).
The euro uses the symbol € and the abbreviation EUR in financial contexts. The symbol typically appears before the amount, while EUR shows up in contracts or invoices for clarity.
As of 2024, 20 European Union member states have adopted the euro as their official currency.
The euro is the world’s second-most traded currency after the U.S. dollar. Its reach spans the eurozone—a region covering 350 million people and 1.2 million square miles, from Lisbon to Helsinki.
Before the euro, countries like France, Germany, and Italy each had their own currencies—the French franc, German mark, and Italian lira, among others. The euro unified this fragmented system when it launched electronically in 1999 and as physical banknotes in 2002.
The euro’s subunit is the cent, with 100 cents making up one euro. In written amounts, cents appear after a decimal point (like €0.99).
| Currency Code | Symbol | Subunit | Subunit Ratio | Countries Using It (as of 2026) |
|---|---|---|---|---|
| EUR | € | Cent | 1/100 | Germany, France, Italy, Spain, Netherlands, Belgium, Austria, Portugal, Finland, Ireland, and 10 others |
| EUR | € | Cent | 1/100 | Non-EU adopters: Andorra, Monaco, San Marino, Vatican City, Montenegro, Kosovo |
Always place the € symbol directly before the number without a space (e.g., €10.50). Use a comma for thousands and a period for decimals—so €12,345.67, not €12.345,67. For formal documents, include EUR after the amount if extra clarity helps (like €1,000.00 EUR).
Cents are written after a decimal point, like €0.99 or €1.50. Never separate the symbol from the number, and always use a period—not a comma—for the decimal.
Write the amount as “€12,34” with a comma for thousands and a period before the cents. So €1,234.56 would appear as “€1.234,56” on the check, following European conventions.
You can exchange euros at airports, banks, or currency booths, but airport rates are usually worse. For better deals, try multi-currency debit cards (like Wise or Revolut) to withdraw euros from local ATMs.
Airport exchange desks often charge high fees and offer poor rates. Save money by using a no-foreign-fee debit card to pull euros directly from ATMs in the country you’re visiting.
The euro’s origins trace back to a political vision in the 1970s, solidified by the 1992 Maastricht Treaty. France and Germany pushed for it as a way to bind economies together and prevent future conflicts. The first euro banknotes, designed by Austrian artist Robert Kalina, feature abstract architectural styles instead of landmarks, symbolizing unity.
Austrian artist Robert Kalina created the original euro banknote designs. His work features architectural styles from Europe’s history, avoiding real landmarks to emphasize the currency’s pan-European identity.
In 2026, the euro will mark 24 years of physical circulation—its silver anniversary. Several countries plan to issue commemorative coins to celebrate the occasion.
The European Central Bank (ECB), based in Frankfurt, Germany, oversees the euro’s stability. Unlike the U.S. Federal Reserve, the ECB focuses primarily on inflation control but has had to navigate political tensions, like Italy’s 2018 budget dispute with Brussels or the €750 billion pandemic recovery fund that tested solidarity between northern and southern EU states.
The ECB often finds itself in the middle of political disputes, like when Italy’s populist government clashed with EU fiscal rules in 2018. During the pandemic, the bank’s €750 billion recovery fund became a test of whether northern and southern EU states could maintain economic solidarity.
