Montenegro and the euro Montenegro and the euro Montenegro has no currency of its own. From 1996 the Deutsche Mark was the "de facto" currency in all private and banking transactions and it was formally adopted as Montenegro's currency in November 1999. The mark was replaced by the euro in 2002 without any objections from the European Central Bank (ECB). The European Commission and the ECB have since voiced their discontent over Montenegro's unilateral use of the euro on several occasions, with Amelia Torres, a spokesperson for the European Commission, saying "The conditions for the adoption of the euro are clear. That means, first
Denomination (currency) as Polish złoty (“golden”) and Vietnamese đồng (“copper”), or its geographical origin, e.g. Joachimsthaler (see Dollar). Denomination (currency) Denomination is a proper description of a currency amount, usually for coins or banknotes. Denominations may also be used with other means of payment like gift cards. For example, "five euros" is the denomination of a five euro note. In a currency, there is usually a main unit (base), and a subunit that is a fraction of the main unit. In some countries, there are multiple levels of subunits. In the former Ottoman Empire, 1 lira = 100 kuruş = 4000 para