Economics

What is the Currency of Germany?

The official currency of Germany is the euro.

What is the Currency of Germany?

Germany uses the euro. Its use began in 2002 when Germany, together with 11 other nations, formed the Eurozone.

The Second Most Used Currency Worldwide

The euro comes second immediately after United States dollar as the most used currency worldwide. By the year 2017, the euro was used daily by at least 337 million people in Europe.

Currency Sign

The euro sign € was adopted after the proposed ten gradually reduced to two after community survey. A Belgian by the name Alain Billiet developed the sign. The € draw inspiration from the Greek epsilon (Є) which is a referral of the infancy of Europe civilization. The first letter stands for Europe and the two parallel lines signify euro stability.

Banknotes and Coins

Coins

The subdivision of the euro is divided into 100 cents. The coins circulating have a primary side bearing the map and values or denomination. The Latin version of euro is used due to a larger number of languages used by different members together Arabic numerals. However, from 2007 or 2008 depending on the member state, the current currency has a map depicting nations outside Eurozone for example Norway. Luc Luycx became the primary designer of all standard sides.

The denominations 2c, 1c, 10c, 20c, 50c, 1€, and 2€ coins are circulated, however, some states (Ireland and Netherlands) introduced the rounded cents to five to refrain from using the 1c and 2c coins.

Banknotes

The notes have conventional designs on the two sides developed by Robert Kalina from Austria. The notes are circulated in the following denominations: 5€, 10€, 20€, 50€, 100€, €200, and €500. Every note came with its color, each marking a particular time in Europe artistic period. Gateways or windows are designed on the front face of the notes and bridges on the back.

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