The primary currency of the European Union is the euro (€). Introduced in 1999, the euro was adopted by 19 of the 27 EU member countries, forming the Eurozone. It serves as a unifying currency intended to facilitate trade, travel, and economic stability among participating nations. The euro is not only a medium of exchange but also plays a significant role in the global economy, being one of the world's major currencies alongside the US dollar. The European Central Bank manages the euro, and it provides a framework for monetary policy and economic governance within the Eurozone.