EURO

EUR

The euro was introduced into non-cash circulation on January 1, 1999, and appeared in the form of banknotes and coins on January 1, 2002.

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Features of the euro:

1.  The only currency for many countries:

•  The euro promotes economic integration and strengthens economic ties between Eurozone member states, simplifying trade and financial transactions.

2.  Adjustment:

•  The European Central Bank (ECB) is responsible for monetary policy, setting interest rates, controlling inflation and ensuring financial stability.

3.  Stability:

•  The euro is considered a relatively stable currency compared to many others. Stability is maintained through strict control over inflation and fiscal discipline among member countries.

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Application of the euro:

1.  Domestic and international payments:

•  The euro is used for all types of payments both within and outside the Eurozone. It is one of the major world currencies that is often used in international financial transactions.

2.  Official currency for citizens and companies in the Eurozone:

•  The euro is the official currency for more than 340 million citizens and thousands of companies in the Eurozone, providing a single currency system for most economic transactions.

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The euro plays an important role in the global economy, contributing to economic stability and facilitating financial transactions within the European Union and beyond.

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