The currency is also used officially by the institutions of the European Union, by four European

microstates that are not EU members,[9] as well as unilaterally by Montenegro and Kosovo.
Outside Europe, a number of special territories of EU members also use the euro as their
currency. Additionally, 240 million people worldwide as of 2018 use currencies pegged to the
euro.[citation needed]

he euro is the second largest reserve currency as well as the second most traded currency in the
world after the United States dollar.[11][12][13] As of August 2018, with more than €1.2 trillion in
circulation, the euro has one of the highest combined values of banknotes and coins in
circulation in the world, having surpassed the U.S. dollar.[14][note 13]