The official currency of the eurozone is the euro (€). The euro was introduced in 1999 as an electronic currency and began circulating as physical cash in 2002. It currently serves as the official currency for 19 of the 27 European Union member states, collectively known as the eurozone. The euro facilitates trade and economic stability within member countries by eliminating currency exchange costs. Its design features various architectural and cultural motifs from different eras of European history, symbolizing unity among member nations. The euro plays a significant role in the global economy, being one of the most widely traded currencies in the world.