Montenegro is a Balkan country with a narrow strip of beaches, medieval villages, and rough mountains. In the early 20th century from 1906 to 1918, the Montenegrin perper was introduced by the government during the short-lived Kingdom of Montenegro and was used in parallel with other foreign currencies like the Austrian krone. From 1922 to 1941, Montenegro used the Yugoslav dinar, the Kingdom of Serbs, Croats, and Slovenes, later known as Kingdom of Yugoslavia's currency when they were a part of it. Following World War II, after becoming part of the Socialist Federal Republic of Yugoslavia, Montenegro was bound to the Yugoslav monetary policy and used the Yugoslav dinar until 1999 as its currency.
Beginning in 1999, the government began searching for a way to protect the economic interests and monetary independence of the country. They built a dual currency system where both the dinar and Deutsche Mark were used. The decision was essentially driven by the National Bank of Yugoslavia's unsteady, expansionary monetary policy stance. The euro notes and coins were officially introduced into circulation on 1 January 2002 in many European countries, including Germany whose official currency was the Deutsche Mark. The Deutsche Mark then ceased to be legal tender instantly with the adoption of the euro. After this, Montenegro decided to unilaterally and officially adopt the euro, initially in parallel legal tender to the Deutsche Mark, and as the only legal tender starting June 2002.
The euro (EUR) is the official currency of 19 of the 27 European Union member states. The euro banknotes have common designs on either side. Banknotes are issued in €500, €200, €100, €50, €20, €10, €5. Each note has its own color and is dedicated to an artistic period of European architecture. The front side features gateways or windows, while the back has bridges, which symbolize links between states in the union and with the future.
There are eight euro coins and seven euro-denominated banknotes. The banknotes, with designs defined by the ECB as displaying "architectural styles from various periods in Europe'sEurope's history," are alike throughout the euro area. However, euro coins have one country-specific side. All euro coins and notes are legal tender in any country in the eurozone, which currently represents 19 of the 27 countries of the EU. All countries in the EU except Denmark, which has opt-out clauses, are expected to join the euro area eventually.