In a previous post here at Credit Boost, we told you what were the images that are stamped on euro banknotes. If you read this text, now you know that they are not specific places. They only follow an “age and themes” pattern that has to do with worldwide architecture. Today’s post discusses the same currency, i.e., the euro. However, we bring other types of facts about the euro banknotes.
You must know that we do not discuss only currencies here at Credit Boost. Actually, our blog is concerned with your finances. Thus, if you think you are handling your budget with ingenuity, you should also definitely check our other blog posts on dealing with your money. Just for your information, we discuss things like how saving money on your electricity bills, for instance. Now let’s talk about the euro. What do you know about it?
5 facts about the euro banknotes
1 Even though the US dollar is the most-traded currency, the euro is used as the official currency of 37 countries
This surely makes the lives of Europeans traveling around Europe much more easier. Paying taxes in currency exchange houses is super boring. Besides, it is expensive and you must be aware of currency fluctuation ahead of time. If you are planning a trip to Europe, ate least you may have to do the process of exchanging dollars for euros just once.
2 Euro was not a physical currency at first
This is something a lot of people do not know. Before the physical circulation of the Euro, it was a medium of electronic payments. It was born quite recently as well, only on 1st January 1999. The first banknotes came into circulation after a few years, on 1st January 2002.
3 Despite being official in 37 countries, it initially was introduced in 12 nations
One of the unknown facts about the euro banknotes is that they were introduced in 12 countries in the first instance. The countries were: Belgium, Germany, Luxembourg, Finland, Austria, Spain, Portugal, Greece, Italy, Ireland, France, and The Netherlands.
4 Although the highest value of the euro banknotes in circulation is €500, the physical bill will be distributed no more
As we previously told in the post on the architecture of euro banknotes, the €500 banknote is not part of the Europa Series, which is the only in circulation right now. However, they will not lose their value.
5 When it comes to international trade, euro banknotes are only surpassed by US dollars
In another of Credit Boost texts, we told you about the highest currency values in the world. The euro banknotes are not one of them. However, when it comes to international trade, i.e., currencies that are greatly valued in the global economic sphere, only the US $ surpasses the € in importance. Besides, it is also considered of great importance with respect to the currency reserve of different countries.
We hope that these facts about the euro banknotes help you to understand how the economy works, mostly with respect to currency values. In order to know more economic and financial subjects, keep up with Credit Boost!