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The Euro is the currency of Europe, and was introduced in 1999. It replaced several European currencies, including the French Franc, German Mark, Dutch Guilder, Italian Lira, Spanish Peseta and Portuguese Escudo. It is used within 19 of the 27 member states of the European Union. The EUR has been used by over 350 million Europeans since its introduction.
The EUR can be exchanged for all EU countries with a fixed exchange rate that is set quarterly by the European Central Bank (ECB). Forex trading using EUROS can be done directly or through an intermediary.
Brief History of the Euro Currency
The Euro was introduced to the world in 1999 by 11 countries, which were part of what is now the European Union (EU). The EUR replaced several national currencies at that time. It first began trading on January 2002 and has become one of the most traded currency pairs worldwide.
The main 19 countries in the European Union using the Euro currency are:
Austria, Belgium, Cyprus, Estonia, Finland, France, Germany, Greece, Ireland, Italy, Latvia, Lithuania, Luxembourg, Malta, Netherlands, Portugal, Slovakia, Slovenia and Spain.
You have various other sovereign states using it including Andorra, Vatican City, Monaco and San Marino.
Lots of other countries peg their own currency against the Euro, for stability reasons as they have high trading volumes between themselves and the European Union. Some examples include, Denmark, Croatia and Morocco.
The EUR currency value is determined by the European Central Bank, which sets a fixed exchange rate for each quarterly review. The eur currency can be used to purchase goods or services in Europe and many other countries worldwide.
A brief history of EURO currency shows that it has had an interesting journey since its inception over 20 years ago. It was first introduced as part of the euro zone. This group of nations then grew into 27 members today (since Brexit) where EU citizens are allowed to use this form of payment between them within these regions.
In terms of currency conversions, USD to EUR is one of the most heavily traded and searched online – as there is much commercial and financial transactions between both of these global currency giants.
Historical Exchange Rates USD to EUR
There have been many fluctuations with an exchange rate peak reaching $0.9311 for €100 EURUSD=X in 2008 during the financial crisis before falling back to around $ .8070 over 2010-2012 as a result of high Eurozone debt levels and weak economic growth prospects within this region relative to other global economies like China or Brazil leading up to 2013 when things improved slightly but remained relatively sluggish for most the remaining decade.
Forex trading using EUR to USD involves buying one currency while simultaneously selling another thereby opening up new investment opportunities for traders looking out for such options.
Forex Trading with EUR
The Eurozone crisis was a multiyear debt crisis within the Eurozone that started in early 2010. It was an extended period of poor economic performance, increased unemployment, rising government deficits and debt levels across European countries using this currency, resulting in several changes to the structure of economies operating.
It also impacted their overall competitiveness against other global markets like China for instance which made it more attractive than many EU member states due to its lower production costs.
Using our free currency calculator
- You want to know how much Euro you can buy with US Dollars.
- Input one of those two currencies and then enter the other currency into the “Amount (to convert from)” box, in this case EUR €50 to USD. Then input your desired amount in that currency. For example, €500 USD.
- Your answer will be displayed on a number line below it as well as an image showing what they are equivalent to. For example, 1000 EUR = 1500 USD – Please note: this is not an accurate conversion example!
Exchange Rates to Euros ( EUR – € ) from
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