Currency Information on Euro - EUR— Euro - €
Often referred to as ‘the single currency’ the Euro is the official currency of many countries within Europe; the ‘Eurozone’, consisting of 19 members states of the EU. It was introduced in 1999 and replaced the European Currency Unit at par. Since 2002, the Euro has traded for more than the USD, reaching the value of $1.6038 in 2008 and currently standing at $1.10.
The Euro is the official currency of the following countries; Spain, Slovakia, Slovenia, Malta, the Netherlands, Latvia, Luxembourg, Lithuania, Italy, Ireland, Finland, Germany, Greece, France, Cyprus, Belgium, Austria and Estonia. 337 million Europeans use the euro daily, which is the second most traded currency, as well as being the second largest reserve currency.
The combined value of the euro coins and banknotes in circulation has surpassed the value of the USD currency in circulation, making the euro the number 1 currency for combined value of banknotes and coins in circulation.
Euro coins available are circulated in denominations of 1, 2, 5, 10, 20, and 50 cents and 1 & 2 euro. Banknotes are available in denominations of 5, 10, 20, 50, 100, 200 and 500 euros.
I run a local delicatessen business in Surrey. Many of my artisan suppliers are based in Italy, Spain and France. We are always making payments to these suppliers and knowing we are getting the best rates is vitally important for us; our margins are tight and any savings are crucial for the success of our business.
Comment written by Artisan supplier based in Italy.
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