The euro’s share of global currency use rose moderately to around 20% in 2025, helped by a jump in euro-denominated international borrowing and strong investor inflows.
The euro remained the world’s second most used currency internationally, with its share rising across a broad set of measures such as global debt issuance, bank deposits and loans, foreign exchange trading, central bank reserves and exchange-rate arrangements, the European Central Bank (ECB) explained in a statement on Tuesday.
International debt issued in euros reached its highest level since the single currency was introduced, rising by about 30% compared with 2024.
The euro also became the leading currency for green and sustainable international bonds for the first time.
Foreign portfolio inflows into the euro area were close to historical highs in 2025.
Fragmentation and alternative payment systems
Central banks continued to increase gold holdings amid geopolitical tensions, while some countries pushed ahead with alternative cross-border payment systems, including those based on digital technologies, the ECB said.
It added that the euro area would need deeper and more liquid capital markets to support the euro’s wider international use, and pointed to steps towards completing a “savings and investments union” — a policy effort to channel savings more effectively into investment across the EU — as part of that process.
The ECB also cited joint financing of public goods as a way to build a larger pool of EU public debt, which can serve as a widely traded “safe asset” for investors.
