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Convert EUR to USD at Best Exchange Rates


There are two main numbers that you need to understand if you are to have any chance of getting the best possible EUR to USD rate, these are the foreign exchange market rate and the transaction margin you will be charged by your bank or foreign exchange provider.


1 Euro equals
United States Dollar 1=


Right now the EUR to USD market rate is but will most likely be quite different by the time you make you currency exchange. You can calculate with the current mid-rate using our EUR to USD calculator below.

Getting a good market rate is mainly about timing however the transaction margin you end up being charged can be considerably reduced by around a few percent (of total amount being exchanged) for travel money and possibly over 5% to 6% when sending money. The exact potential savings depends on the currencies being exchanged and the amount you are transferring and if you are willing to shop around.

Our real-time comparison calculators make shopping around easy and help you calculate how much you can save.



Why can't I just get the same EUR/USD market rate I see on Google or in the Media?

When you look up the current Euro to United States Dollar exchange rate on the web the figure you find quoted on sites like google or mentioned on TV is is commonly referred to as the mid-market rate.

EUR to USD mid-rate on google

EUR to USD mid-rate on google search

Getting a great EUR to USD mid-market rate is all about timing, so unless you are able to wait, watch and time the market this is largely beyond your control. This rate will go up and down with varying amounts of volatility depending on the currency pair.

This mid-market rate is really only a reference and is just the starting point for calculating the actual rate you will get for your transaction, luckily we can also use this same rate to determine how good a deal a rate that a provider offers you actually is.

You can use the below EUR to USD calculator to convert currency amounts using the latest mid-market exchange rates. Then choose your transaction type for specific Euro cross rates and reviews of leading foreign exchange providers versus the Banks.

EUR to USD market rate calculator & info

$
1 EUR equals
USD 1EUR=USD

Loading EUR/USD Chart

Euro - Recent Performance

In mid-October, the euro was floating around 1.18 against the dollar, having pulled back from September’s long-term highs close to 1.21.

Against the British pound, the euro stood at 0.897. It had been as high as 0.9306 in August – a level that hadn’t been achieved since 2009.

Speculation surrounding the end of the ECB’s quantitative easing program has driven euro appreciation this year. For the first time since its introduction, the central bank will discuss tapering QE at its meeting on October 26th.

In September, Dutch bank ABN Amro predicted EUR/USD would rise to 1.3 by the end of 2018. As reasons for the pair’s climb, ABN cited “strong conviction” on future US dollar weakness and less stimulative ECB policy.

In September, HSBC cancelled its forecast for the euro to rise to parity with the pound. HSBC’s revised year-end forecast now places EUR/GBP at 0.893.

A divergence in the paths of monetary policy between the ECB and the Swiss National Bank will lead to EUR/CHF climbing to 1.18 in the medium term, from October's rate of 1.154, according to a prediction by Credit Agricole.

Bank of America Merrill Lynch go one further on EUR/CHF. The bank has a “minimum target” of 1.20 by the end of 2018. BAML says that EUR/CHF “looks cheap relative to its longer-term moving averages.”

United States Dollar - Recent Performance

The dollar began November close to multi-month highs. Major dollar rates include EUR/USD, which ended the first session of the month at 1.162, down nearly 4% on levels in early September, and USD/JPY, which stood at 114.18, up 6.4% from September’s low. The US Dollar Index stood at 94.85.

The dollar’s September-October rally was a welcome change from its near-12% fall in the January-August period.

Outlook:

Long-term dollar sentiment remains downbeat.

In the expert opinion of ABN Amro, Saxo Bank and others, Donald Trump’s proposed tax cuts are either unlikely to make it through Congress or won’t have the reflationary effect that investors are hoping for. Furthermore, if Jerome Powell is named as the next Chair of the Federal Reserve, as is rumuored, he is likely to follow his predecessor’s footsteps by proceeding cautiously on interest rate rises, which may disappoint dollar traders.

In late October, Credit Agricole added its name to a growing list of banks predicting difficult times ahead for the dollar. The bank said that the currency’s September-October rebound was “unlikely to extend much further.”

Earlier in October, Saxo Bank predicted that the dollar would “top out” in Q4 and “continue its longer-term decline.”

In September, ABN Amro expressed “strong conviction” on future dollar weakness and Nomura reaffirmed its “structural bearish view.”

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