EUR (€)
Euro
Current regime
Trading the EUR between market participants and across borders is unrestricted and the market price is primarily determined without central bank intervention.
Highly standardised payment processing.
History
After a decade of preparations, the euro was launched on 1 January 1999. For the first three years it was an ‘invisible’ currency, only used for accounting purposes and electronic payments. Coins and banknotes were launched on 1 January 2002 in 12 EU countries and the biggest cash changeover in history took place.
The EUR euro accounted for 32.3% of global FX turnover in April 2019.
