This is the world’s second largest reserve currency and the second most traded currency. The largest would be the United States Dollar. With over 800 billion €’s in circulation it has surpassed the United States Dollar as the currency with the highest combined value of banknotes and coins in circulation in the world.
European coins and banknotes entered circulation on January 1, 2002, although they had been used in accounting transaction since January 1, 1999. One of the benefits of combining many different currencies to one universal currency was not having to deal with the risk associated with exchange rates. Studies have shown a significant risk reduction in businesses in and outside of the EU. This and increased investment rates have made accessing financing easier for businesses in the Eurozone.
Use our free currency converter to convert Euros and calculate exchange rates for other currencies such as the United States Dollar (USD), Japanese Yen (JPY), or the Pound Sterling (GBP). To convert this currency simply enter the amount in EUR and select the currency you would like to convert to. Our conversion rates are updated daily, and will give you an extremely close estimate of the actual conversion amount. We recommend double checking the current rates before committing to any large financial transactions.