11 June 2025

• Euro’s share across various indicators of international currency use largely unchanged at around 19%
• Emerging challenges include initiatives promoting global use of cryptocurrencies
• Upholding rule of law essential for maintaining, and potentially increasing, global trust in the euro

The international role of the euro remained broadly stable in 2024 and the euro held on to its position as the second most important currency globally. The share of the euro across various indicators of international currency use has been largely unchanged since Russia’s full-scale invasion of Ukraine, standing at around 19%. These are some of the main findings in the annual review of the international role of the euro, published today by the European Central Bank (ECB).

This stability was noteworthy in a year that saw the ECB begin lowering policy rates, following further declines in inflation and amid continuing geopolitical tensions. The share of the euro in global official holdings of…