Countries that use Euro but are not in European Union
The Euro, the second most traded currency in the world after the US dollar, is widely used in global currency markets. However, the Euro is not limited to the countries within the European Union(EU). Some countries which are not part of the EU have adopted it as well. Knowing about these non-EU nations which use Euro can come in handy during your Europe trip.
A small country located in the Pyrenees mountains between France and Spain, Andorra has a long-standing tradition of using multiple currencies, including the French franc and the Spanish peseta. However, in 2011, Andorra entered into a monetary agreement with the EU, after which it started using the Euro as its official currency, replacing the French franc and the Spanish peseta.
Monaco is a small independent city-state located on the French Riviera, surrounded by France and the Mediterranean Sea. The country used the French franc as its official currency before entering into a monetary agreement with the EU that authorized using the Euro as a legal tender. This agreement was part of a broader effort to help facilitate trade between Monaco and other European countries.
A small republic located within Italy, San Marino has used the Italian lira as its official currency since the 19th century. But in 2002, the country adopted Euro as the sole legal tender after entering into a monetary agreement with the EU. San Marino's decision to adopt Euro was motivated by its desire to promote economic integration with Europe and to simplify financial transactions.
The Vatican City is a sovereign city-state located within the city of Rome, Italy, and the smallest independent state in the world. Before adopting the Euro, Vatican City used the Italian lira as its official currency. The adoption of the Euro has facilitated trade and financial transactions with other European countries, which is an important source of revenue for Vatican City.
Montenegro and Kosovo
Montenegro and Kosovo are two countries in the Balkan region. Montenegro officially and unilaterally adopted the Euro in 2002, first as a parallel legal tender alongside the Deutsche Mark, and then as the sole legal tender from March 2002 onwards. Kosovo officially switched to the Euro in January 2002 and the Deutsche Mark remained legal tender until March 2002.