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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 26 countries); any country entering the European Union (EU) is expected to join the eurozone [ 1 ] when they meet the five convergence criteria. [ 2 ]
Several European microstates outside the EU have adopted the euro as their currency. For EU sanctioning of this adoption, a monetary agreement must be concluded. Prior to the launch of the euro, agreements were reached with Monaco, San Marino, and Vatican City by EU member states (Italy in the case of San Marino and Vatican City, and France in the case of Monaco) allowing them to use the euro ...
Turkey Uganda Ukraine Uruguay Malaysia Mauritius Pakistan ; Free floating (33) Australia Canada Chile Czech Republic Japan Mexico Norway Poland Russia Sweden United Kingdom Somalia United States European Union Austria
Historically English language sources used "£T" [65] [66] or "T£" [67] for the currency, but it is unknown whether this notation was ever used within Turkey. The current currency sign of Turkish lira was created by the Central Bank of the Republic of Turkey in 2012. The new sign was selected after a country-wide contest. [68]
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 name euro was officially adopted on 16 December 1995 in Madrid. [15] The euro was introduced to world financial markets as an accounting currency on 1 January 1999, replacing the former European Currency Unit (ECU) at a ratio of 1:1 (US$1.1743 at the time). Physical euro coins and banknotes entered into circulation on 1 January 2002, making ...
Currency Central bank Pegged with Albania: Albanian lek: Bank of Albania Armenia: Armenian Dram: Central Bank of Armenia Azerbaijan: Azerbaijani Manat: Central Bank of Azerbaijan Belarus: Belarusian rubel: National Bank of the Republic of Belarus Bosnia and Herzegovina: Bosnia and Herzegovina convertible mark: Central Bank of Bosnia and Herzegovina
1 These countries are currently not participating in the EU's single market (EEA), but the EU has common external Customs Union agreements with Turkey (EU-Turkey Customs Union in force since 1995), Andorra (since 1991) and San Marino (since 2002). Monaco participates in the EU customs union through its relationship with France; its ports are ...