The euro is the official currency of 19 European Union countries. It was officially introduced in 2002. Although the currency is the same, each country issues coins with unique designs. The euro symbol (€) is derived from the Greek letter epsilon, and its two horizontal lines symbolize the stability and strength of the EU.
Lithuania adopted the euro in 2015, joining the Eurozone. The euro is the second most traded currency after the US dollar and holds the second-largest international currency reserve. As of 2019, the euro's circulation exceeds 1.3 trillion euros, making it one of the most widely circulated currencies globally.
Euro coins come in denominations of 1, 2, 5, 10, 20, and 50 cents, as well as 1 and 2 euros. However, in some European countries, coins smaller than five cents are not used by law to minimize the circulation of low-value coins.
One euro is made up of 100 cents. The design of euro coins has remained the same since 2002, with one side depicting the value and a map of Europe, while the other side shows a unique national design chosen by the issuing country.
The Eurozone consists of 19 countries and is used by approximately 343 million people. The plan is to expand the Eurozone to all EU countries except Denmark when economic conditions allow.
Since its introduction, the euro hit its lowest value in 2000 but later recovered. On July 15, 2008, it reached its highest historical value against the US dollar, on July 23 against the Japanese yen, and on December 29 against the British pound.
