The medium of exchange for the goods and services in the European union is called euro. Its main purpose is that the single currency offers a number of advantages and benefits compared to each Member State having its own currency. In addition to eliminating fluctuation risks and the costs of exchanging currencies and strengthening the single market, Member States can work more closely on a stable currency and economy because of the euro, which is in everyone's interest. The single currency in a such big market as European union brings many advantages that comes from any form of financial and economic integration, and as a result the mentioned above, it gives the opportunity of competitive advantage in a currency market as its market share becomes bigger. Before introducing the new common currency additional costs were incurred due to the need to exchange currencies, and cross-border transactions were risky and non-transparent. With the euro currency, doing business in the euro area is more economical and less risky. The possibility of simple and obvious price comparison motivates international trade and investment of various forms, in addition to all, investing consumers looking for the best product, companies that buy services at the most reasonable price and attracting the foreign direct investments that are less risky, and cost less due the exchange rate cost cut. The European union, and euro area is one big market where common currency is main connecting dot for doing businesses. The Republic of Croatia is on the right way for implementing the euro. The year when it will officially happen will be 2023. Then the Republic of Croatia will be the full member of the eurozone area.