Euro 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
Language and the euro currency's name in Hebrew arose. The official name of the currency established by the Academy of the Hebrew Language and the Bank of Israel is derived from An unofficial spelling and pronunciation , derived from the English pronunciation of the currency's name, is also used. Although in Hebrew currency names are usually declined for singular and plural, both forms of the Euro name are used for the singular and plural alike. In Hindi, the euro is spelt as यूरो (Yūro), while cent is written as सेंट (seṇṭ). Both the words are not pluralised. Europe is known as यूरोप (Yūrop) in