The papers reviews the studies on European monetary policy which examines developments in the use of the euro by non-euro area residents since 1999 to 2011. In article finds that the international role of the euro remained broadly stable during 1999–2011 when compared with other major international currencies. The share of euro-denominated instruments fluctua­ted only marginally between 2009 and 2011 in the market segments examined. Also this publication presents the main findings of the continued monitoring and analysis by the ECB and the Eurosystem of the developments, determinants and implications of the use of the euro by non-euro area residents. In the report you can also find data regarding the use of the euro by third countries as well as in global markets, in particular with respect to the use as anchor, reserve, trade, invoicing and parallel currency.