The major currency used in Europe is the Euro (€). Introduced in 1999 (and physically launched in 2002), the Euro is the official currency for 19 of the 27 European Union (EU) member countries, collectively known as the Eurozone. The adoption of the Euro aimed to facilitate economic integration, enhance trade, and simplify travel across member states by providing a single currency. The Euro is managed by the European Central Bank, and its value is influenced by various economic factors, including inflation, interest rates, and economic performance of the participating countries, making it one of the most traded currencies globally.