The currency of the European Union is the Euro (€), which was introduced in 1999 and became the official currency of 19 of the 27 EU member states, known as the Eurozone. The Euro simplifies trade and travel between these nations by providing a single currency, which encourages economic stability and integration. Each country in the Eurozone adopts the Euro as their official currency, allowing for easier transactions and exchange rate stability within the region. The central bank responsible for the Euro is the European Central Bank (ECB), which regulates monetary policy and aims to maintain price stability across the Eurozone.