Passage of banknotes issued in one country to another, where they are then integrated into the Expression used by economists and monetary specialists to refer to the amount of money in circulation. of the latter. In the eurozone, migration of The name of the European single currency adopted by the European Council at the meeting held in Madrid on 15-16 December 1995. See ECU. banknotes occurs with a high frequency and intensity because the euro banknotes are the national The money used in a particular country at a particular time, like dollar, yen, euro, etc., consisting of banknotes and coins, that does not require endorsement as a medium of exchange. in multiple adjoining countries.