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Euro, the currency used by the most countries and territories, the second-largest reserve currency and the second-most traded currency. Some currencies, such as the Abkhazian apsar , are not used in day-to-day commerce, but are legal tender in their issuing jurisdiction.
Currency ISO 4217 code Symbol or Abbrev. [2] Proportion of daily volume Change (2019–2022) April 2019 April 2022 U.S. dollar: USD $, US$ 88.3%: 88.5%: 0.2pp
The euro is the second-largest currency held in reserves, making up around 20% to 25% of global reserves. The share of the euro fluctuates based on factors like the European Union's economic stability and the policies of the European Central Bank.
The euro is the second largest reserve currency and the second most traded currency in the world after the United States dollar. [32] [33] [34] The euro is used by 20 of its 27 members, overall, it is the official currency in 26 countries, in the eurozone and in six other European countries, officially or de facto.
Countries that have made legal agreements with the EU to use the euro: Andorra, Monaco, San Marino, Vatican City; Countries that unilaterally use the euro: Montenegro, Kosovo; Currencies pegged to the euro: Cape Verdean escudo, CFA franc, CFP franc, Comorian franc, Bulgarian lev, Bosnia and Herzegovina convertible mark, São Tomé and Príncipe ...
The euro is the second-largest reserve currency as well as the second-most traded ... the investment rate after 1998 in countries that previously had a weak currency.
The first European banknotes were issued in 1661 by Stockholms Banco.Founded by Johan Palmstruch, it was a predecessor of Sweden's central bank Sveriges Riksbank. [1] As commercial activity and trade shifted northward in 17th century Europe, deposits at and notes issued by the Bank of Amsterdam denominated in Dutch guilders became the means of payment for much trade in the western world.
In the first half of the 20th century, multiple currencies did share the status as primary reserve currencies. Although the British Sterling was the largest currency, both the French franc and the German mark shared large portions of the market until the First World War, after which the mark was replaced by the dollar.