The euro (sign: €; code: EUR) is the official currency of the European Union. Currently 19 of 28 member states use the euro (eurozone). It is the second most traded currency in the foreign exchange market after the United States dollar. The euro is subdivided into 100 cents.
The currency is also officially used by the institutions of the European Union and four other European countries, as well as unilaterally by two others, and is consequently used daily by some 337 million Europeans as of 2015. Outside Europe, a number of overseas territories of EU members also use the euro as their currency. Additionally, 210 million people worldwide as of 2013 use currencies pegged to the euro.
The euro is the second largest reserve currency as well as the second most traded currency in the world after the United States dollar. As of January 2017, with more than €1.1 trillion in circulation, the euro has one of the highest combined values of banknotes and coins in circulation in the world, having surpassed the U.S. dollar.
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