List of currencies in Europe
There are 25 currencies currently used in the 50 countries of Europe, all of which are members of the United Nations, except Vatican City, which is an observer.[1] All de facto present currencies in Europe, and an incomplete list of the preceding currency, are listed here.
A currency is a medium of exchange, such as money, banknotes, and coins.[2] In Europe, the most commonly used currency is the euro (used by 25 countries); any country entering the European Union (EU) is expected to join the eurozone[3] when they meet the five convergence criteria.[4] Denmark is the only EU which have been granted an exemption from using the euro.[3] Sweden has also not adopted the Euro, although unlike Denmark, it has not formally opted out; instead, it fails to meet the ERM II (Exchange Rate Mechanism) which results in the non-use of the Euro.[5][6] For countries which hope to join the eurozone, there are five guidelines that need to be followed, grouped in the Maastricht criteria.[3]
The pound sterling, used by the United Kingdom, is rated at fourth on Investopedia's list of the top 8 most tradable currencies, and that it is a "little bit more volatile than the euro".[7] It was ranked just ahead of the Swiss franc, ranked fifth, which is used in Switzerland and Liechtenstein, saying that the set up of the Swiss banking "emphasizes the economic and financial stability policies dictated by the governing board of the SNB". Both are in the top 8 major currencies on Bloomberg.[8] Several countries use currencies which translate as "crown": the Czech koruna, the Norwegian krone, the Danish krone, the Icelandic króna, and the Swedish krona.
At present, the euro is legal tender in 19 out of 27 European Union member states,[10] in addition to 5 countries not part of the EU (Monaco, San Marino, Vatican City, Andorra and Montenegro).[11] Kosovo also uses the euro,[11] but is only partially recognised as an independent state.
European currencies
Currencies of partially recognized states in Europe
Unrecognized country | De jure country | Present currency | Currency sign | ISO 4217 (or unofficial) code | Fractional unit | Previous currency |
---|---|---|---|---|---|---|
Abkhazian apsar
Russian ruble (both official) |
Apsar has no currency sign
₽ |
ABK (unofficial)
RUB |
Apsar has no fractional unit | Soviet ruble | ||
Euro
Serbian dinar (unnoficial, only in Serb majority areas) |
€
РСД |
EUR
RSD |
Cent
Para |
Yugoslav dinar | ||
Armenian dram
Artsakh dram (both official) |
դր. | AMD | Luma | Soviet ruble | ||
Turkish lira
Euro (unofficial) |
₺
€ |
TRY
EUR |
Kuruş | Cypriot pound | ||
Russian ruble | ₽ | RUB | Kopeyka | Soviet ruble | ||
Transnistrian ruble | руб | PRB (unofficial) | Kopeck | Soviet ruble |
See also
References
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- Stastna, Kazi (9 December 2011). "Euro: the common currency explained". CBC News. Retrieved 12 October 2013.
- "Who can join and when?". European Commission. 4 September 2013. Retrieved 17 October 2013.
- "ERM II". Minestary of Finance. 11 November 2011. Archived from the original on 17 October 2013. Retrieved 17 October 2013.
- "Sweden and the euro". European Commission. 8 August 2011. Retrieved 17 October 2013.
- "Top 8 Most Tradable Currencies". Investopedia. 30 June 2013. Retrieved 12 October 2013.
- "Currencies: Major World Currencies". Bloomberg. Retrieved 12 October 2013.
- "The euro". Europa. Retrieved 12 October 2013.
- "Introduction". European Central Bank. Retrieved 9 October 2013.
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- "Local Currency in Austria". CurrencyName.com. Retrieved 22 July 2013.
- "Austrian Schilling". BBC. 2001. Retrieved 12 October 2013.
- "AZN – Azerbaijani New Manat". Xe. Retrieved 22 July 2013.
- "Milli valyutamızın tarixi (Azerbaijani)". AZƏRBAYCAN RESPUBLİKASININ MƏRKƏZİ BANKI. Retrieved 22 July 2013.
- "Banknotes and Coins of the National Bank of the Republic of Belarus". National Bank of the Republic of Belarus. Retrieved 22 July 2013.
- "BYR – Belarusian Ruble". Xe. Retrieved 22 July 2013.
- "Belarusian Ruble". Oanda. Retrieved 20 September 2013.
- "Chronological summary of the history of the Belgian franc". National Bank of Belgium. Retrieved 22 July 2013.
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- "BAM – Bosnian Convertible Marka". Xe. Retrieved 22 July 2013.
- "Bosnian Mark". Oanda. Retrieved 20 September 2013.
- "BGN – Bulgarian Lev". Xe. Retrieved 22 July 2013.
- "HRK – Croatian Kuna". Xe. Retrieved 23 July 2013.
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(help) - "Introduction". Latvijas Banka. Retrieved 23 July 2013.
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