Economics, Econometrics and Finance
8 years ago

Euro emerging as dominant currency in international trade, reshaping global financial landscape.

Palgrave Macmillan UK eBooks
The Role of the Euro in the International Monetary Arena: Present and Prospects
Sergio Rossi

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The euro has become a major currency for trade within the Euro Area and the European Union, as well as with non-EU countries. The European Central Bank found that the euro's use in international debt securities increased to 31.5%, while its use in cross-border loans, deposits, and foreign exchange trading remained stable. The euro is also being used more in trade with regions near the Euro Area, like the 'euro time zone' and 'euro bloc'.