- Offering
- Resources
- Company
- About Us
- Help & Support
- Partnerships
Facts about the Euro
Importance of the Euro
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.
Introduction of the Euro
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”.
FAQ
What does EUR mean in currency?
What is the symbol of the Euro?
What Makes the Euro Important?
What countries use Euro?
Is EUR a good investment?
Euro Stats
Name
EUR
Symbol
€
Minor unit
1/100 = cent
Minor unit symbol
cent
Bank notes
Freq Used: 5 euros, 10 euros, 20 euros, 50 euros, 100 euros Rarely Used: 200 euros, 500 euros
Forex Investing
Euro Exchanges Rates
Need Help? Visit our Help Section
Download NAGA Trader
Markets
Platforms
Pricing & Terms
Company
Documentation
Partnerships
Help & Support
Free Education
News & Analysis
Download NAGA Trader
Copyright © 2024 – 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.
The website is operated by JME Financial Services (Pty) Ltd an authorised Financial Services Provider, regulated by the Financial Sector Conduct Authority in South Africa under license no. 37166. JME Financial Services (Pty) Ltd is located at Suite 10, 21 Lighthouse Rd 201 Beacon Rock, Umhlanga Rocks, Kwa-Zulu Natal, 4320, South Africa.
JME Financial Services (Pty) Ltd acts as intermediary between the investor and Naga Capital Ltd, the counterparty to the contract for difference purchased by the Investor via Naga.com/za. NAGA Capital Ltd is authorised and regulated by the Financial Services Authority Seychelles (FSA) under licence No. SD026. Naga Capital Ltd is the principal to the CFD purchased by investors on this website. Partner company Naga Markets Europe Ltd provides content and operates the business, Head office address: Agias Zonis 11, Limassol 3027, Cyprus, with company reg. number HE 251168.
RISK WARNING: Derivatives are complex instruments and come with a high risk of losing money rapidly due to leverage. You should consider whether you understand how derivatives work and whether you can afford to take the high risk of losing your money. The value of financial products can increase as well as decrease over time, depending on the value of the underlying securities and market conditions. Illustrations, forecasts or hypothetical data are not guaranteed and are provided for illustrative purposes only. JME Financial Services (Pty) Ltd does not render advice in respect of the CFD’s offered on this website. Before making an investment decision, you should rely on your own assessment. The Company’s disclaimer, conflict of interest policy are available on legal documents section.
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.