List of currencies in Europe
Unrecognized country De jure country Present currency Currency sign ISO 4217 ( or unofficial ) code Fractional unit Previous currency
Abkhazia Georgia Abkhazian apsar Russian ruble ( both official ) Apsar has no currency sign ₽ ABK RUB Apsar has no fractional unit Kopeyka Soviet ruble
Kosovo Serbia Euro Serbian dinar ( unnoficial , only in Serb majority areas ) € РСД EUR RSD Cent Para Yugoslav dinar
Artsakh Azerbaijan Armenian dram Artsakh dram ( both official ) դր AMD Luma Soviet ruble
North Cyprus Cyprus Turkish lira Euro ( unofficial ) ₺ € TRY EUR Kuruş Cent Cypriot pound
South Ossetia Georgia Russian ruble ₽ RUB Kopeyka Soviet ruble
Transnistria Moldova Transnistrian ruble руб PRB Kopeck Soviet ruble
Currencies of partially recognized states in Europe
There are 25 currencies currently used in the 50 countries of Europe, all of which are members of the United Nations, except Vatican City, which is an observer. All de facto present currencies in Europe, and an incomplete list of the preceding currency, are listed here. A currency is a medium of exchange, such as money, banknotes, and coins. In Europe, the most commonly used currency is the euro (used by 25 countries); any country entering the European Union (EU) is expected to join the eurozone when they meet the five convergence criteria. The UK and Denmark are the only EU members which have been granted an exemption from using the euro. Sweden has also not adopted the Euro, although unlike Denmark, it has not formally opted out; instead, it fails to meet the ERM II (Exchange Rate Mechanism) which results in the non-use of the Euro. For countries which hope to join the eurozone, there are five guidelines that need to be followed, grouped in the Maastricht criteria. The pound sterling, used by the United Kingdom, is rated at fourth on Investopedia's list of the top 8 most tradable currencies, and that it is a little bit more volatile than the euro. It was ranked just ahead of the Swiss franc, ranked fifth, which is used in Switzerland and Liechtenstein, saying that the set up of the Swiss banking emphasizes the economic and financial stability policies dictated by the governing board of the SNB. Both are in the top 8 major currencies on Bloomberg. Several countries use currencies which translate as crown: the Czech koruna, the Norwegian krone, the Danish krone, the Icelandic króna, and the Swedish krona. At present, the euro is legal tender in 19 out of 28 European Union member states, in addition to 5 countries not part of the EU (Monaco, San Marino, Vatican City, Andorra and Montenegro).