The Euro is the official currency of the European Union and is used in 19 of the 28 EU member states. It is a major currency used in international financial markets and is used in the pricing of various investments, including stocks, bonds, commodities and derivatives. The Euro is also used to hedge against currency risks, as it is relatively stable compared to other foreign currencies. Additionally, it is a common currency used to facilitate cross-border financial transactions, and is often used to purchase foreign securities or to lend money across borders. Consequently, the Euro is an important currency in global financial markets and is an important tool for investors to manage their portfolios.