The official currency used in Monaco is the Euro (€).
Monaco, although a sovereign principality, does not have its own currency. It adopted the Euro as its official currency in 2002, along with other countries in the Eurozone.
While the Euro is the official currency, Monaco also accepts other currencies, such as US dollars and Swiss francs, in many businesses, particularly in tourist areas. However, it's always advisable to use Euros as the primary currency for transactions in Monaco.
Due to its close proximity and strong ties with France, Monaco's economic system heavily relies on the Euro. The use of the Euro benefits Monaco by promoting stability and reducing transaction costs. It also facilitates trade and tourism with other Eurozone countries.
