Euro

Overview & Economic Role

The Euro (EUR) is the official currency of the Eurozone, which consists of 20 of the 27 member states of the European Union. It is the second-largest reserve currency and the second-most traded currency in the world after the US Dollar.

The European Central Bank (ECB), based in Frankfurt, Germany, is the central bank of the Eurozone. Its main objective is to maintain price stability by keeping inflation under control. The Euro serves as a symbol of European integration and facilitates friction-free trade across national borders.