The EURO is the official currency used by 19 of the 27 member countries of the European Union, collectively known as the Eurozone. It was introduced in 1999 for electronic transactions and became physical currency in 2002, replacing national currencies like the German Mark and French Franc. The symbol for the EURO is € and its currency code is EUR. The European Central Bank manages the monetary policy for the Eurozone, aiming to maintain price stability and support economic growth among member countries.