How can PHP be used to format Euro amounts with two decimal places?

To format Euro amounts with two decimal places in PHP, you can use the number_format() function. This function allows you to specify the number of decimal places you want to display. Additionally, you can use the setlocale() function to set the locale to a specific country, such as 'fr_FR' for France, which will format the currency symbol accordingly.

$amount = 1234.56;
setlocale(LC_MONETARY, 'fr_FR');
echo money_format('%i', $amount);