Europe does not have a single currency. Instead, it has dozens of national currencies, although the euro is by far the most widely used. Some countries belong to the Eurozone and use the euro, while others have retained their own national currencies.
Below are all the currently circulating sovereign currencies used by European countries.
Euro (EUR)
The euro is the official currency of the Eurozone and is one of the world’s most important reserve currencies. It was introduced for electronic transactions in 1999 and physical banknotes and coins entered circulation in 2002.
Countries using the euro include:
Austria, Belgium, Croatia, Cyprus, Estonia, Finland, France, Germany, Greece, Ireland, Italy, Latvia, Lithuania, Luxembourg, Malta, the Netherlands, Portugal, Slovakia, Slovenia, and Spain.
Several European microstates also use the euro through formal agreements, including Andorra, Monaco, San Marino, and Vatican City. Kosovo and Montenegro also use the euro unilaterally, although they are not official members of the Eurozone.
The euro is divided into 100 cents.
Albanian Lek (ALL)
The lek is the official currency of Albania. It was introduced in 1926 and is divided into 100 qindarka, although qindarka coins are no longer used in everyday transactions. The lek remains the only legal tender in Albania.
Armenian Dram (AMD)
Armenia’s official currency is the dram. It was introduced in 1993 after independence from the Soviet Union. One dram is divided into 100 luma, although luma coins are rarely used.
Azerbaijani Manat (AZN)
The manat is the currency of Azerbaijan. The modern manat was introduced in 2006, replacing the older version at a rate of 5,000 old manat to 1 new manat. It is divided into 100 qəpik.
Belarusian Ruble (BYN)
Belarus uses the Belarusian ruble. The current version was introduced in 2016 following a major redenomination. It is divided into 100 kopecks.
Bosnia and Herzegovina Convertible Mark (BAM)
The convertible mark is Bosnia and Herzegovina’s official currency. It was introduced in 1998 and was originally pegged to the German mark. Today it is pegged to the euro under a currency board arrangement. It is divided into 100 fenings.
Bulgarian Lev (BGN)
The lev is Bulgaria’s national currency. It has existed in several forms since 1881. The modern lev is pegged to the euro under a currency board system, maintaining a fixed exchange rate. It is divided into 100 stotinki.
Czech Koruna (CZK)
The Czech Republic uses the koruna. It came into circulation in 1993 after the peaceful dissolution of Czechoslovakia. It is divided into 100 haléřů, although haléř coins are no longer used.
Danish Krone (DKK)
Denmark uses the krone instead of adopting the euro, despite being a member of the European Union. The krone is closely tied to the euro through the European Exchange Rate Mechanism (ERM II). It is divided into 100 øre.
Georgian Lari (GEL)
Georgia’s currency is the lari. Introduced in 1995, it replaced temporary post-Soviet currencies. The lari is divided into 100 tetri.
Hungarian Forint (HUF)
Hungary’s official currency is the forint, introduced in 1946 after a period of severe hyperinflation. It remains one of Europe’s oldest continuously used currencies. Although technically divided into 100 fillér, fillér coins are no longer in circulation.
Icelandic Króna (ISK)
Iceland uses the króna, which has been its currency since 1918. The króna is not formally divided into smaller units because aurar coins have been withdrawn from circulation.
Moldovan Leu (MDL)
Moldova’s currency is the leu, introduced in 1993 after independence from the Soviet Union. It is divided into 100 bani.
North Macedonian Denar (MKD)
North Macedonia uses the denar, introduced in 1992 following independence from Yugoslavia. It is divided into 100 deni.
Norwegian Krone (NOK)
Norway uses the krone despite being outside the European Union. It is one of Europe’s strongest and most stable currencies, supported by Norway’s energy-rich economy. It is divided into 100 øre, although øre coins are no longer in circulation.
Polish Złoty (PLN)
Poland’s currency is the złoty. The modern złoty was introduced in 1995 after redenomination. It is divided into 100 groszy.
Romanian Leu (RON)
Romania uses the leu, with the current version introduced in 2005 after removing four zeros from the previous currency. It is divided into 100 bani.
Russian Ruble (RUB)
Russia’s official currency is the ruble. Although Russia spans Europe and Asia, the ruble is considered one of Europe’s major currencies because much of the country’s population and historical centers lie in Europe. It is divided into 100 kopecks.
Serbian Dinar (RSD)
Serbia uses the dinar, one of Europe’s oldest currency names, with roots dating back to the medieval period. The modern dinar is divided into 100 para.
Swiss Franc (CHF)
Switzerland and Liechtenstein both use the Swiss franc. It is one of the world’s most trusted and stable currencies and is widely regarded as a safe-haven currency during times of global financial uncertainty. It is divided into 100 rappen (German), centimes (French), centesimi (Italian), or rap (Romansh).
Turkish Lira (TRY)
Turkey’s official currency is the lira. Because Turkey is a transcontinental country with territory in southeastern Europe and western Asia, the lira is included among European currencies. The current “new” lira was introduced after a major redenomination in 2005 and later reverted to simply being called the Turkish lira. It is divided into 100 kuruş.
Ukrainian Hryvnia (UAH)
Ukraine uses the hryvnia, introduced in 1996 after replacing the karbovanets. It is divided into 100 kopiykas.
British Pound Sterling (GBP)
The United Kingdom uses pound sterling, commonly called the British pound. It is the world’s oldest currency still in continuous use and one of the most traded currencies in international financial markets. It is divided into 100 pence.
European currencies by number
Europe currently has approximately 24 distinct sovereign currencies:
- Euro (EUR)
- Albanian Lek (ALL)
- Armenian Dram (AMD)
- Azerbaijani Manat (AZN)
- Belarusian Ruble (BYN)
- Bosnia and Herzegovina Convertible Mark (BAM)
- Bulgarian Lev (BGN)
- Czech Koruna (CZK)
- Danish Krone (DKK)
- Georgian Lari (GEL)
- Hungarian Forint (HUF)
- Icelandic Króna (ISK)
- Moldovan Leu (MDL)
- North Macedonian Denar (MKD)
- Norwegian Krone (NOK)
- Polish Złoty (PLN)
- Romanian Leu (RON)
- Russian Ruble (RUB)
- Serbian Dinar (RSD)
- Swiss Franc (CHF)
- Turkish Lira (TRY)
- Ukrainian Hryvnia (UAH)
- British Pound Sterling (GBP)
- Euro (shared by 20 EU countries and several non-EU European states)
Although there are more than 40 sovereign countries in Europe, the widespread adoption of the euro means that the continent uses only about two dozen distinct currencies. The euro is by far the most dominant, while the remaining countries continue to issue and manage their own national currencies through their respective central banks.
