EUR stands for Euro, which is the official currency of the European Union (EU). The euro is used by the majority of member countries in the EU and is the second-most traded currency in the world after the US dollar. It is subdivided into smaller units called cents and is managed by the European Central Bank (ECB). The euro is used for a variety of transactions, including international trade, investment, and tourism. It is also the official currency of several countries outside the EU, including Andorra, Monaco, San Marino, and Vatican City. The euro is denoted by the symbol “€” and is widely recognized as a symbol of the economic and political integration of Europe.