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All de facto present currencies in Europe, and an incomplete list of the preceding currency, are listed here. In Europe, the most commonly used currency is the euro (used by 25 countries); any country entering the European Union (EU) is expected to join the eurozone [1] when they meet the five convergence criteria. [2]
De Facto Classification of Exchange Rate Arrangements, as of April 30, 2021, and Monetary Policy Frameworks [2]; Exchange rate arrangement (Number of countries) Exchange rate anchor
The local name of the currency is used in this list, with the adjectival form of the country or region. ... Greece, Ireland, Italy, Latvia, Lithuania, Luxembourg ...
The lira was the official unit of currency in Italy until 1 January 1999, when it was replaced by the euro (the lira was officially a national subunit of the euro until the rollout of euro coins and notes in 2002). Old lira denominated currency ceased to be legal tender on 28 February 2002. The conversion rate was Lit 1,936.27 to the euro. [13]
The euro is the result of the European Union's project for economic and monetary union that came fully into being on 1 January 2002 and it is now the currency used by the majority of the European Union's member states, with all but Denmark (which has an opt-out in the EU treaties) bound to adopt it.
Colour key and notes Indicates that a given currency is pegged to another currency (details) Italics indicates a state or territory with a low level of international recognition State or territory Currency Symbol [D] or Abbrev. ISO code Fractional unit Number to basic Abkhazia Abkhazian apsar [E] аҧ (none) (none) (none) Russian ruble ₽ RUB Kopeck 100 Afghanistan Afghan afghani ؋ AFN ...
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The name "euro" was officially adopted in Madrid on 16 December 1995. [15] Belgian Esperantist Germain Pirlot, a former teacher of French and history, is credited with naming the new currency by sending a letter to then President of the European Commission, Jacques Santer, suggesting the name "euro" on 4 August 1995. [52]