The international role of the euro increased moderately in 2025, reinforcing its position as the world’s second most important currency. The euro’s share across a broad set of indicators of international use rose to around 20%, continuing a gradual but steady upward trend observed since Russia’s invasion of Crimea in 2014.

In 2025, issuance of international debt in euro reached its highest level since the introduction of the single currency, rising by around 30% compared with 2024. The euro also became the leading currency in the green and sustainable international bond market for the first time….