The euro is now being used for nearly three quarters of cash payments in the 12-nation single currency zone, according to the European Commission.

Euro notes and coins were launched a week ago, on 1 January.

The post-Christmas sales season in the shops is helping to speed euro coins and notes into circulation and to strip out national banknotes from the countries' economies.

Queues in shops are back to normal and are shortening at banks, the Commission said.

Collectors cause hiccup

But some coin shortages have arisen because people are hoarding the new currency, the European Central Bank (ECB) said.

It urged consumers to spend the starter packs of euro coins that were distributed ahead of the launch to allow people a chance to familiarise themselves with the new currency.

The value of national banknotes in circulation within the eurozone had dropped 18% to 220.7bn euros one week after the euro's introduction as a cash currency, the ECB said.

The euro is now being used for at least 60% of all transactions in member countries.