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Currencies of the European Union

There are eight currencies of the European Union as of 2025 used officially by member states. The euro is used by a majority of EU member states, while the remainder operating independent monetary policies. Those European Union member states that have adopted it are known as the eurozone, and share the European Central Bank (ECB). The ECB and the national central banks of all EU countries, including those who operate an independent currency, are part of the European System of Central Banks.

Euro

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Further information: Euro, Eurozone, and Enlargement of the eurozone

The euro is the result of the European Union's project for economic and monetary union that came fully into being on 1 January 2002 and it is now the currency used by the majority of the European Union's member states, with all but Denmark (which has an opt-out in the EU treaties) bound to adopt it. It is the currency used by the institutions of the European Union and in the failed treaty on a European Constitution it was to be included with the symbols of Europe as the formal currency of the European Union. The euro is also widely used by other states outside the EU.

Except for Denmark, all current and future members of the EU are obliged to adopt the Euro as their currency, thus replacing their current ones.[1] The relationship between euro and non-euro states has been on debate both during the United Kingdom's membership (as a large opt-out state) and in light of withdrawal from the EU and how that impacts the balance of power between the countries inside and those outside the eurozone, avoiding a eurozone caucus out-voting non-euro states. Former member United Kingdom had called for the EU treaties to recognise the EU as a "multicurrency union", which sparked concerns about undermining euro adoption in remaining countries.[2][3][4][5]

Current currencies

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Map of currencies used within the EU and dates of Euro adoption
  States which used the euro from 1999 (currency entered circulation 2002)
  States which subsequently adopted the euro
  States using other currencies
EU GDP by currency area (2023)[6]
  1. Eurozone (84.9%)
  2. Poland (4.40%)
  3. Sweden (3.10%)
  4. Others (7.60%)

The following are official currencies used within the borders of the 27 EU Member states:

Currency Region Symbol ISO Peg Notes
Euro European Union Eurozone:

Austria
Belgium
Croatia
Cyprus
Estonia
Finland
France
Germany
Greece
Ireland
Italy
Latvia
Lithuania
Luxembourg
Malta
Netherlands
Portugal
Slovakia
Slovenia
Spain

€ EUR Floating Also used by EU institutions.
Bulgarian lev Bulgaria лв BGN ERM II (Currency board) Bulgaria has been approved to replace the Bulgarian lev with the euro on 1 January 2026.[7]
Czech koruna Czech Republic Kč CZK Floating
Danish krone Denmark kr DKK ERM II Opt-out from adopting the euro.
Hungarian forint Hungary Ft HUF Floating
Polish złoty Poland zł PLN Floating
Romanian leu Romania Leu RON Floating
Swedish krona Sweden kr SEK Floating
Note that there are other currencies used in overseas territories of member states. Those territories however are not part of the European Union proper (legally subject to all its law) so are not listed here.

Historic currencies

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Further information: History of the euro
Currency State Symbol ISO Yielded
on 		Rate to
euro 		Notes
Austrian schilling Austria S or öS (ATS) 1999/2002 13.7603
Belgian franc Belgium fr. (BEF) 1999/2002 40.3399 [a]
Croatian kuna Croatia kn (HRK) 2023 7.5345
Cypriot pound Cyprus £ (CYP) 2008 0.585274
Dutch guilder Netherlands ƒ or fl. (NLG) 1999/2002 2.20371
Estonian kroon Estonia Kr (EEK) 2011 15.6466
Finnish markka Finland mk (FIM) 1999/2002 5.94573
French franc France ₣, F or FF (FRF) 1999/2002 6.55957 [c]
German mark Germany DM (DEM) 1999/2002 1.95583
Greek drachma Greece Δρχ., Δρ. or ₯ (GRD) 2001/2002 340.75
Irish pound Ireland £ (IEP) 1999/2002 0.787564 [d]
Italian lira Italy ₤, L. or LIT (ITL) 1999/2002 1,936.27 [f]
Latvian lats Latvia Ls (LVL) 2014 0.702804
Lithuanian litas Lithuania Lt (LTL) 2015 3.4528
Luxembourgian franc Luxembourg fr. or F (LUF) 1999/2002 40.3399 [g]
Maltese lira Malta ₤ or Lm (MTL) 2008 0.4293
Pound sterling United Kingdom £ GBP was part of EU until Brexit [h]
Portuguese escudo Portugal $ (PTE) 1999/2002 200.482
Slovak koruna Slovakia Sk (SKK) 2009 30.126
Slovenian tolar Slovenia T (SIT) 2007 239.64
Spanish peseta Spain ₧ (ESP) 1999/2002 166.386
European Currency Unit Accounting only ₠, ECU or XEU (XEU) 1999/2002 1 [i]

See also

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Notes

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  1. ^ Interchangeable with Luxembourgian franc (BLEU).
  2. ^ Replaced alongside French franc with euro
  3. ^ Linked to Monegasque franc,[b] both valid in France, Andorra and Monaco.
  4. ^ Was interchangeable with pound sterling until 1979.
  5. ^ Replaced alongside Italian lira with euro
  6. ^ Linked to Sammarinese & Vatican lira,[e] all valid in Italy, San Marino and the Vatican City.
  7. ^ Interchangeable with Belgian franc (BLEU).
  8. ^ Was interchangeable with Irish pound until 1979.
  9. ^ Accounting currency alongside national currencies until the euro introduction.

References

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  1. ^ The euro Archived 15 September 2016 at the Wayback Machine, European Commission
  2. ^ The Eurozone seeks a post-Brexit balance Archived 29 September 2018 at the Wayback Machine, European Data Journalism Network 15 December 2017
  3. ^ UK call for ‘multicurrency’ EU triggers ECB alarm Archived 10 June 2018 at the Wayback Machine, Financial Times 4 December 2015
  4. ^ The Great British Euro Conundrum Archived 11 June 2018 at the Wayback Machine, Handelsblatt 20 June 2016
  5. ^ What a fair relationship between ‘euro ins’ and ‘euro outs’ could look like Archived 24 February 2018 at the Wayback Machine, London School of Economics 26 January 2016
  6. ^ "GDP and main components (output, expenditure and income)". Eurostat. Archived from the original on 13 April 2023. Retrieved 15 December 2024.
  7. ^ "Bulgaria ready to use the euro from 1 January 2026: Council takes final steps". European Council. Retrieved 8 July 2025.