The euro (sign: €; code: EUR) is the official currency of the eurozone: 17 of the 27 member states of the European Union. It is also the currency used by the Institutions of the European Union. The eurozone consists of Austria, Belgium, Cyprus, Estonia, Finland, France, Germany, Greece, Ireland, Italy, Luxembourg, Malta, the Netherlands, Portugal, Slovakia, Slovenia, and Spain. The currency is also used in a further five European countries and consequently used daily by some 332 million Europeans. Additionally, over 175 million people worldwide - including 150 million people in Africa - use currencies which are pegged to the euro.
The five euro note (€5) is the lowest value euro banknote and has been used since the introduction of the euro (in its cash form) in 2002. The note is used in the 22 countries which have it as their sole currency (with 20 legally adopting it); with a population of about 332 million. It is the smallest note measuring 120x62mm and has a grey colour scheme. The five euro banknotes depict bridges and arches/doorways in Classical architecture (up to the fifth century CE). The five euro note contains several complex security features such as watermarks, invisible ink, holograms and micro-printing that document its authenticity.
Obverse: Arch in Classical architecture
Reverse: Bridge in Classical architecture and map of Europe
The euro is the second largest reserve currency as well as the second most traded currency in the world after the United States dollar. As of November 2011, with nearly €891 billion in circulation, the euro has the highest combined value of banknotes and coins in circulation in the world, having surpassed the US dollar. Based on International Monetary Fund estimates of 2008 GDP and purchasing power parity among the various currencies, the eurozone is the second largest economy in the world.
The name euro was officially adopted on 16 December 1995. The euro was introduced to world financial markets as an accounting currency on 1 January 1999, replacing the former European Currency Unit (ECU) at a ratio of 1:1. Euro coins and banknotes entered circulation on 1 January 2002.
