The currency used in the Eurozone is the Euro (€). The Euro was introduced in 1999, with physical coins and banknotes being issued in 2002. It serves as the official currency for 19 of the 27 European Union member countries, collectively known as the Eurozone. The Euro is one of the world's most traded currencies and facilitates easier trade and travel among member countries by eliminating currency exchange issues. The European Central Bank manages the Euro and its monetary policy.