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Eurozone - Euro - Currency Guide

 

Foreign exchange guide to the Eurozone and the Euro (EUR)

     

USD/EUR 90-day view

USDEUR at 0.8401 is a little below its 90-DAY average, range 0.8378-0.8603.
|
1-DAY0.6% 60-DAY-LOW
 
Recent USD to EUR 90-day trend

General Currency Info - Euro

The euro (ISO: EUR) is involved in slightly more than 30% of all foreign exchange deals, and as such, is the world’s second most traded currency, behind the US dollar.

The euro is the currency of the eurozone (officially called the ‘euro area’), which consists of 19 of the 28 member states of the European Union, and is used by almost 350 million Europeans. It was introduced in January 1999.

Of all the thousands of exchange rates that exist in the world, the euro-to-US dollar exchange rate is the most actively traded, or most ‘liquid’.

Since its introduction, the euro’s lowest value against the dollar came in October 2000 when EUR/USD hit lows of 0.8231. The currency was strongest in July 2008, shortly before the worst stage of the 2007-2009 financial crisis, when EUR/USD reached 1.6038.

There are currently more than twenty nations and territories which peg their currencies to the euro, the largest of which is Denmark.

   

EUR News, Forecasts and Trends

The Euro has struggled in early November dropping to 30-DAY-LOWS due to the COVID-19 second-wave outbreak with France, Italy, and Germany – the Eurozone’s three largest economies – entering lockdowns once more. The markets fear that poor economic results will continue through the end of the year.

The euro is currently a more appealing investment than the US dollar as fiscal support and COVID-19 containment open the door to a faster paced recovery than what is likely in the US. With current USD weakness and strong long-term prospects for the European Union, there is speculation that the euro could be a contender as the world’s new reserve currency. In the short term the euro could be susceptible to swings, however in the longterm the euro has very good prospects. The currency is poised to move above 1.1850 and extend toward 1.20 in coming weeks.

In mid-July euro strengthened four-month highs (around 1.15 against the US dollar) as european leaders delivered a difficult agreement on a coronavirus rescue package to help member states manage the economic downturn.

The historic stimulus package will see the bloc issue 750 billion euros (US$860 billion) of joint debt and is seen by market commentators as positive for the euro.

The Euro spent 2019 on a downwards trajectory, starting the year with highs at US1.1550 but then slid all year until October where it bottomed out at US$1.09 on Oct 1, close to long-term lows. Since then it has climbed back over the 1 year average of US1.11 towards US1.20.

For more EUR currency market forecasts you can read the full article Euro Forecasts. The above interactive chart shows the USD to EUR exchange rate, trend and recent alerts for the last 90 days.

US Dollar to Euro - Historical Rates

USD/EUR rateChangePeriod
18 Nov 2020 : 0.84420.6% ▼1 Week
26 Oct 2020 : 0.84680.9% ▼30 Days
27 Aug 2020 : 0.84600.8% ▼90 Days
26 Nov 2019 : 0.90727.5% ▼1 Year
27 Nov 2015 : 0.943911.1% ▼5 Years
28 Nov 2010 : 0.755711% ▲10 Years

USD/EUR 10 year historic rates & change to 25-Nov-2020 : 0.8391

 

U$10,000 USD
=
€8,401 EUR

Converted at USD/EUR interbank rate, compare Send Money and Currency Exchange exchange rates.

US Dollar to Euro - Quick Conversions

USD EUR
U$ 1 0.8401
U$ 5 4.2005
U$ 10 8.4010
U$ 20 16.80
U$ 50 42.01
U$ 100 84.01
U$ 250 210.03
U$ 500 420.05
U$ 1,000 840.10
U$ 2,000 1,680
U$ 5,000 4,201
U$ 10,000 8,401
U$ 50,000 42,005
U$ 100,000 84,010
More amounts
USD EUR
U$ 1.1904 € 1
U$ 5.9520 € 5
U$ 11.90 € 10
U$ 23.81 € 20
U$ 59.52 € 50
U$ 119.04 € 100
U$ 297.60 € 250
U$ 595.20 € 500
U$ 1,190 € 1,000
U$ 2,381 € 2,000
U$ 5,952 € 5,000
U$ 11,904 € 10,000
U$ 59,520 € 50,000
U$ 119,040 € 100,000
More amounts
 

Frequently Asked Questions

 

What currency should I use in the Eurozone?

The domestic currency in the Eurozone is the Euro.

What is the Euro currency code and symbol?

The three letter currency code for the Euro is EUR — symbol is .

Which countries use the Euro?

It is the domestic currency in    Eurozone,   Aaland Islands,   Andorra,   Austria,   Belgium,   Cyprus,   Estonia,   Finland,   France,   French Guinea,   French Southern Territories,   Germany,   Greece,   Guadeloupe,   Vatican City,   Ireland,   Italy,   Luxembourg,   Malta,   Martinique,   Mayotte,   Monaco,   Montenegro,   Netherlands,   Portugal,   Reunion,   Saint Barthélemy,   Saint Martin,   Saint Pierre and Miquelon,   San Marino,   Slovakia,   Slovenia and Spain.

Is the Euro a closed currency?

No, the Euro is freely available and convertible. See guide: What is a closed currency?

 

Travel, Currency and Money saving tips for the Eurozone

No destination holds as much variety and cultural difference as Europe. From the sunny south to the snowy north there is no shortage of places to see here. When arriving at any new destination for first time visitors it cant hurt to stop by the Tourist Point to get any free maps, discounts, and cost free events. Most decent hotels have free WiFi so try using this to avoid any suprise Roaming fees on your phone when you get back home. ATM and credit card use varies greatly between countries so purchasing a Pre-paid Travel Card before leaving for your travels can save time and hassle.

If you would like to travel by train and can book a fare way in advance you can save money by getting a pass for Europe's extensive train system that goes pretty much everywhere. You can check prices at sites like RailEurope. To save a lot of travel time and money you can book a sleeper cabin on an overnight train. While travelling across Europe by bus used to be uncomfortable there are now low cost luxury buses available. And now to save even more time at your locations instead of travelling to them, costs for flights have greatly reduced in recent years making it a very affordable and very fast way to get around. Depends on your preference.

The Euro currency is widely used across most of Europe which makes it very convenient, so if you plan to spend most your travel time in Europe try to convert a chunk of currency before you go to get the best rates. It’s a little known fact that the closer you get to the departure gates in any country the worst the currency exchange rates get! In fact travellers can end up paying more than 10% extra if you load up on your overseas currency at airport bureau de change outlets.

If you end up buying your travel money on depature day without pre-ordering online you are most likely wasting some of your money.

 

Travel money for the Eurozone

Save money and time by Ordering your Euro online from Travelex, you get better rates and can pick up the EUR cash locally or even on travel day at the airport.

Another popular option is to use a Pre-paid Travel Card. Your Debit/Credit Card provider will charge you 2% from market mid-rate, but your bank may also charge an extra 3% as an “Overseas Transaction Charge” plus “Overseas ATM” fees for withdrawing cash.

For card purchases if offered a choice of currencies always select to Pay in Euro otherwise you may get much worst exchange rates.

 

Send Money to the Eurozone - Best Rates

When searching around for information on how to get a good exchange rate when sending money to the Eurozone you need to start with finding out the latest Euro exchange rate for foreign transfers also called International Money Transfers (IMTs), which can be very different to the wholesale rate and also to currency exchange rates.

Then compare your bank's exchange rates to several licensed FX providers exchange rate and fees to see how much you can save - we make that calculation easy in the below table.


Get a better deal for foreign transfers to the Eurozone

When sending money to the Eurozone it’s important to compare your bank’s rates & fees with those we have negotiated with our partner money transfer providers. To get a better deal you should follow these 4 simple steps :

  1. Open an account with a BER reviewed FX provider (id docs may be required)
  2. You specify the local or Euro amount you want to transfer
  3. Make a local currency domestic transfer for the requested amount to the provider's bank account in your country
  4. Once your funds are received by the provider the converted EUR amount will be transfered to the recipient account you specify in the Eurozone.

Use the above Send to Euro calculator to compare the exchange rates of FX specialist providers rates versus your bank's standard rates you can hopefully save around 5% and maybe more - end result is more Euro deposited into the recipient bank account and less margins and fees kept by the banks!


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