The euro (€) is the official currency of the Eurozone, which consists of 19 of the 27 European Union countries. The euro is divided into 100 smaller units called cents. Cents are used in everyday transactions, allowing for precise pricing and change. Coins come in various denominations: 1, 2, 5, 10, 20, and 50 cents, as well as 1 and 2 euro coins. Banknotes are available in denominations of 5, 10, 20, 50, 100, 200, and 500 euros. This structure helps facilitate trade and commerce across the Eurozone nations.