The euro was launched by the ECB on January 1, 1999 and commenced circulation on the market on January 1, 2002. The primary aims of the euro are to promote European integration and to improve the EU's economic performance. However, due to the EU's weight, the euro has also had far-reaching implications for the global economy. The euro has firmly established its role as an international currency. The use of the euro as an anchor or core currency and also as a deposit currency has gradually increased. It has played a significant role in international loans and deposits, global foreign exchange, and international trade markets, amongst other things. Accordingly, the internationalization of the euro has been characterized as a key trend in the international financial system.