The Euro is the official currency of the European Union and is used by 19 countries in Europe. It is the second-largest reserve currency in the world and is a major component of international investment and financial markets. The Euro is used for trading and investing in stocks and bonds, international payments, and currency hedging. The Euro offers investors an alternative to the U.S. dollar, allowing them to diversify their investment portfolio and hedge against currency risk. It is also a commonly traded currency in the Forex market, providing traders with exposure to a wide variety of currency pairs.