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What is EUR?

Euro - EUR.

What is EUR? It's Euro, €.

European currency notes.

European currency is legal tender throughout the euro area.

EUR vs EURO

The euro is an aggregate currency covering of the economies of the 17 countries of the eurozone, a subset of the 27 member European Union (EU). It directly impacts over 500 million people worldwide, including the 326 million population within the eurozone itself and the 175 million people that live in countries that either use the euro or live in countries where their local currency is pegged to the EUR. A euro is broken down into 100 cents. Euro is represented in accounting using the symbol €.

Currency fact sheet

Euro fact sheet.
Name Euro
ISO 4217 code EUR
Sign
Symbol
Coin 1c, 2c, 5c, 10c, 20c, 50c, €1, €2
Banknote €5, €10, €20, €50, €100, €200, €500
Central bank European Central Bank
Nickname Irish English: quid

More about...

More about the European money.

Governed by the Eurosystem, comprised of the European Central Bank and the central banks of each represented member state, the euro is a currency that reflects an aggregate of 17 of the 27 European Union member states. It is the second most used world reserve currency, involved in over 20% of traded currency pairs. Used by over 500 million people worldwide European money is the largest worldwide currency in circulation, and euro member states represent 14.6% of world GDP.

Every euro coin carries a common European face. On the obverse (head) side, each member state decorates the coins with their own motifs. No matter which motif is on the coins they can be used anywhere inside the 12 member states. For example, a French citizen can buy a hot dog in Berlin using a euro coin carrying the imprint of the King of Spain.

Coin collectors have the joy of filling 104 holes in coin books as eight denominations of euro coins from 16 different countries make for a whole new frontier in coin collecting.

One euro coin.

Euro coins began circulating on 1st of January 2002.

One Europe, one money.

The idea of having one money in Europe was first put forward in the 1970 Werner Report.

Exchange rates

What is the Euro exchange rate today?

European Central Bank (ECB)

Headquartered in Frankfurt, Germany, the European Central Bank is the central bank of the 17 member countries of the eurozone. In similar fashion to the United States' FOMC, the ECB has a main body responsible for making monetary policy decisions, the Executive Council, which is composed of five members and headed by a president. The remaining policy heads are chosen with consideration that four of the remaining seats are reserved for the four largest economies in the system, which include Germany, France, Italy and Spain. This is to ensure that the largest economies are always represented in the case of a change in administration. European currency interest rate information

Converters and rates

Easy to use currency converters and fresh exchange rates every weekday.

A simple answer to what is EUR is as simple - it is a medium of exchange in countries that use euro. There are many good topics around about the euro on the web.

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