Euro (EUR) is the native currency of 19 European Union countries and is used by more than 340 million EU citizens. Thus, EUR is the second most widely used currency in the world. Euro is very important for the EU countries since it provides security from foreign exchange shock, making the global economy less vulnerable and ensuring lower transaction, financial, and foreign exchange costs for international businesses. Moreover, as a global currency, it aims to engage in sectors such as energy, raw material trading, and aircraft manufacturing where most of the transactions are done using USD. Last but not least, the EUR has been linked with more than 60 countries and territories outside the EU.
The Euro as a native currency was first introduced in 1991 in the Maastricht Treaty as the common unit of exchange of the 12 original member countries of the European Community. The new currency was issued officially on the 1st of January 1999. Initially, the use of EUR was in certain businesses and financial markets and after 2002 the currency started to be used by most of the member states. The EUR is managed by the European Central Bank which is located in Frankfurt, Germany. Euro is not used by all of the European member states but only by 19 of the 27 which are called the “eurozone”.
The EUR is the abbreviation for the Euro which is the native currency of the European Member states that take part in the “eurozone”. It is considered to be the second most traded currency around the globe.
Freq Used: 5 euros, 10 euros, 20 euros, 50 euros, 100 euros Rarely Used: 200 euros, 500 euros
Copyright © 2022 – All rights reserved.
NAGA is a trademark of The NAGA Group AG, a German based FinTech company publicly listed on the Frankfurt Stock Exchange | WKN: A161NR | ISIN: DE000A161NR7.
Any trademarks appearing on this website are the property of their respective owners.
The NAGA Group AG is the holding company of various companies, such as NAGA GLOBAL LLC, NAGA MARKETS EUROPE LTD, NAGA Technology GmbH, NAGA Pay GmbH and has a close link with NAGAX Europe OÜ.
RISK WARNING: Derivatives are complex instruments and come with a high risk of losing money rapidly due to leverage. A high percentage of retail investor accounts lose money when trading derivatives with this provider. You should consider whether you understand how derivatives work and whether you can afford to take the high risk of losing your money.
Trading with NAGA Trader by following and/or copying or replicating the trades of other traders involves high levels of risks, even when following and/or copying or replicating the top-performing traders. Such risks include the risk that you may be following/copying the trading decisions of possibly inexperienced/unprofessional traders, or traders whose ultimate purpose or intention, or financial status may differ from yours. Before making an investment decision, you should rely on your own assessment of the person making the trading decisions and the terms of all the legal documentation.
NAGA Group does not offer its services to residents of certain jurisdictions such as the USA, UK, Belgium, Iran, Canada (including Quebec) and North Korea etc.