The official currency of the Netherlands is the Euro, which has been in use since January 1, 2002. Before adopting the Euro, the country used the Dutch Guilder as its currency. The Euro is used by 19 of the 27 European Union countries, making it one of the most widely used currencies in the world. The Euro is divided into 100 cents and is available in both coins and banknotes. The coins come in denominations of 1, 2, 5, 10, 20, and 50 cents, as well as 1 and 2 Euro coins. The banknotes are available in denominations of 5, 10, 20, 50, 100, 200, and 500 Euros.