WMEuro

The Euro (EUR) is the official currency of the European Union (EU), used in 15 member states of Eurozone. It is also used in 9 other countries around the world, 7 of those being in Europe.

The Euro was introduced to world financial markets as an accounting currency in 1999 and launched on 1 January 2002. The euro is managed and administered by the European Central Bank (ECB). With more than €610 billion in circulation as of December 2006 (equivalent to US$802 billion at the exchange rates at the time), the euro is the currency with the highest combined value of cash in circulation in the world, having surpassed the U.S. dollar.

Starting from June 2008, WebMoney Transfer E units (WME) are circulating in the system as e-checks, its face value is equivalent to EUR. Checks are paid by the "Network Clearing House" - the credit institution.