What is the currency of euro member countries?

The Euro is the currency of Euro Member Countries. Our currency rankings show that the most popular Euro exchange rate is the EUR to USD rate. The currency code for Euros is EUR, and the currency symbol is €. Below, you'll find Euro rates and a currency converter. The central bank in Europe is called the European Central Bank (ECB).

How do you spell Euro?

The official spelling of the EUR currency unit is "euro", with a lower case "e"; however, the common industry practice is to spell it "Euro", with a capital "E". Many languages have different official spellings for the Euro, which also may or may not coincide with general use.

Where does the Eurocurrency market work?

The eurocurrency market functions in many financial centers around the world, not just Europe. The eurocurrency market is the money market for currency outside of the country where it is legal tender. The term eurocurrency is a generalization of eurodollar and should not be confused with the EU currency, the euro.

When did the Euro become a currency?

In 1998 the European Central Bank (ECB) was established to manage the new currency. Based in Frankfurt, Germany, the ECB is an independent and neutral body headed by an appointed president who is approved by all member countries to serve an eight-year term. The euro was launched on January 1, 1999, replacing the precursor ecu at a 1:1 value.