the euro became the european currency on 1 january 2002.
the euro became the european currency on 1 january 2002.
when did the euro became the european currency?
1 january 2002
the name "euro" was officially adopted on 16 december 1995 in madrid. the euro was introduced to world financial markets as an accounting currency on 1 january 1999, replacing the former european currency unit (ecu) at a ratio of 1:1 (us$1.1743). physical euro coins and banknotes entered into circulation on 1 january 2002, making it the day-to-day operating currency of its original members, and by march 2002 it had completely replaced the former currencies. while the euro dropped subsequently to us$0.83 within two years (26 october 2000), it has traded above the u.s. dollar since the end of 2002, peaking at us$1.60 on 18 july 2008. in late 2009, the euro became immersed in the european sovereign-debt crisis, which led to the creation of the european financial stability facility as well as other reforms aimed at stabilising and strengthening the currency.
euro
de facto currency









































a de facto currency is a unit of money that is not legal tender in a country but is treated as such by most of the populace. the united states dollar and the european union euro are the most common de facto currencies.









































section::::euro.









































andorra used the euro unofficially prior to june 2013, at which point the euro became its official currency. the euro remains the de facto currency in kosovo and montenegro.









































section::::united states dollar.
de facto currency