AJ stands for Andrew Jackson, our 7th president. His reputation for toughness earned him the nickname "Old Hickory." A hero of the War of 1812, Jackson has appeared on the $20 bill since 1928.

Use this calculator to find out how many US dollars one Euro is worth.

How did 11 countries become 23?

After World War II, the countries of Europe looked for ways to prevent another European war.

Prevent Another War

After World War II, the countries of Europe formed the European Coal and Steel Community. Today it's called the European Union, with 27 member nations.

In 1998 they created the European Central Bank to keep prices steady within the countries. The European Central Bank keeps prices stable by fighting inflation.

The formation of the European Central Bank paved the way for a single currency. The single currency helps:

• Citizens of the member countries feel a common identity and the possibility of further cooperation.
• Shoppers compare prices across national borders.
• Manufacturers sell goods in other countries without the need to convert currencies.

CloseThe original 11 countries decided that a single currency would help unite them. In time, more countries joined.

Using a single currency among the participating countries has another advantage. Travelers do not need to change currencies at their borders.

That means you can use the same euros in France and Italy.

You save money, too. You often must pay a fee to change one currency for another.

How do dollars and euros compare?

When you travel, keep several payment options close at hand.

The values of the U.S. dollar and the euro change in relation to each other constantly. That's because supply and demand decides how many dollars a euro is worth and vice versa.

Suppose more people want dollars rather than euros. Then the value of the dollar rises while the value of the euro falls. 

Why would people in another country want dollars? So they could buy things from the United States.

The more dollars other countries want, the more a dollar is worth.

It works the same way with the euro. That's because an increase in demand decreases the supply, and the smaller the supply, the greater the value.

The future of the euro

Because the value of the euro changes constantly, the future is anyone's guess. As for the currencies it replaced, they are worthless.

A Spanish peseta won't buy you much, but might make a fun addition to a currency collection.

East Texas Professional Credit Union What makes credit unions so great? Members like you. Every dollar you invest in your credit union earns you money while other members borrow it. When you're ready for a loan, other members' savings will be there to help you out at the lowest possible cost.