How was its value determined

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Euro was established as a result of the Economic union between countries in Europe to give them more power. After Bretton Woods, US dollar became reserve currency of the world, and other countries currency Value slowly started losing value. The answer was to unite and present a powerful currency in response to the hegemony of US dollar. Also, the resources of individual countries could be put to better use to bring out synergies.

How was its value determined?

Reference no: EM131819163

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