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History of the Euro
The euro was launched on 1 January 1999 as an electronic currency and became legal tender on 1 January 2002, but attempts to create a single currency go back 20 years. This chart shows the value of the euro (before 1999 as a basket of the 11 legacy currencies) against the US dollar.
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Euro launch
The euro was launched on 1 January 1999 as an electronic currency used by banks, foreign exchange dealers, big firms and stock markets. The new European Central Bank set interest rates across the eurozone. But uncertainty about its policy and public disagreements among member governments weakened the value of the euro on foreign exchange markets.
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