The **Euro** (EUR) is the official currency of the Eurozone, which consists of 19 of the 27 European Union (EU) member states. It is one of the most widely used and traded currencies in the world. The Euro was introduced as an accounting currency on January 1, 1999, and euro banknotes and coins entered into circulation on January 1, 2002, replacing the former national currencies of the participating countries.

### Key Facts about the Euro:

1. **Symbol and Code:**
– Symbol: €
– Code: EUR

2. **Member Countries:**
– As of my last knowledge update in January 2022, the Euro is the official currency of the following 19 Eurozone countries:
– Austria
– Belgium
– Cyprus
– Estonia
– Finland
– France
– Germany
– Greece
– Ireland
– Italy
– Latvia
– Lithuania
– Luxembourg
– Malta
– Netherlands
– Portugal
– Slovakia
– Slovenia
– Spain

3. **Currency Authority:**
– The Euro is managed and administered by the Eurosystem, which comprises the European Central Bank (ECB) and the national central banks of the Eurozone countries.

4. **Denominations:**
– Euro banknotes and coins come in various denominations. Banknotes are issued in denominations of €5, €10, €20, €50, €100, €200, and €500. Coins are issued in denominations of 1 cent, 2 cents, 5 cents, 10 cents, 20 cents, 50 cents, €1, and €2.

5. **Monetary Policy:**
– The monetary policy for the Eurozone is set by the European Central Bank. The Eurosystem aims to maintain price stability and support the general economic policies of the EU.

6. **Global Reserve Currency:**
– The Euro is considered one of the world’s major reserve currencies, alongside the U.S. Dollar and the Japanese Yen. It is widely used in international trade and finance.

7. **Exchange Rate:**
– The exchange rate of the Euro against other currencies fluctuates based on various economic factors, including interest rates, inflation, and economic performance.

8. **Euro Area:**
– The Eurozone, or Euro Area, represents the region where the Euro is the official currency. While not all EU member states use the Euro, those in the Eurozone have adopted it as their sole legal tender.

The Euro plays a crucial role in the global economy, and its stability is closely monitored by financial institutions, policymakers, and market participants worldwide. The Eurozone is a key economic and monetary union that facilitates economic cooperation and integration among its member states.