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 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 US1.15.
For more EUR currency market forecasts you can read the full article Euro Forecasts. The below interactive chart shows the USD to EUR exchange rate, trend and recent alerts for the last 90 days.
Recent USD to EUR 90-day trend
USD to EUR at 0.852 was trading 4.1% belowAVG:0.8888 with LO:0.842 and HI:0.9264 (90 days). There are no current rate alerts.
Travel, Currency and Money saving tips for Ireland
Ireland is a beautiful country filled with rolling green hills, castles, beautiful cliffs, Guinness beer, and super-friendly locals. Dublin is a lively city with great pubs and history while the country is filled with beautiful landscapes and castles, so it’s hard not to have a good time here. The country is small so it's easy to explore the whole thing, it is vibrant and fun.
History is everywhere, from the breathtaking monuments of prehistoric Ireland at Brú na Bóinne, Slea Head in Kerry and Carrowmore in Sligo, to the fabulous ruins of Ireland's rich monastic past at Glendalough, Clonmacnoise and Cashel.
What currency is used in Ireland?
The Euro has been the currency in circulation in Ireland since the beginning of 2002. It replaced The Irish pound ("punt Éireannach" in Irish). There are two currencies in use on the island of Ireland, so come prepared. You should be aware that as part of the UK, Northern Ireland uses pound sterling, not the euro. Since international bank cards will work perfectly in ATMs and chip and pin terminals on both sides it won’t make a huge difference, but it’s worth knowing if you’re planning to shop. In the 6 counties of Northern Ireland (Fermanagh, Armagh, Tyrone, Derry, Antrim and Down), sterling (GBP) is the currency used.
How to travel in Ireland?
Ireland is extremely well-served by budget airlines traveling throughout the UK and Europe. By booking in advance with the likes of Ryanair, Easyjet, and BMIBaby, you can get cheap flights from Ireland to elsewhere in the world. Ireland's size makes domestic flying unnecessary, but there are flights between Dublin and Belfast, Cork, Derry, Donegal, Galway, Kerry, Shannon and Sligo aimed at passengers connecting from international flights. Flights linking the mainland to the Aran Islands are popular.
For cheap bus travel take the Green bus like most locals, they service most of Ireland. Eat at the pubs for good, hearty local Irish food that won't destroy your wallet. If you like visiting heritage sites grab a OPW Heritage card. It gives access to main attractions, including most of the castles throughout the country. The card costs 25 EUR for adults.
Bus is convenient but renting a car in Ireland can be fantastic to get around on your own schedule. The traffic is not hectic and the roads are good. The bus is fine, but if you have the ability be sure to rent a car to see the countryside and meet the people on your own timetable.
Ireland's compact size and scenic landscapes make it a good cycling destination. However, unreliable weather, many very narrow roads and some very fast drivers are major concerns. Special tracks such as the 42km Great Western Greenway in County Mayo are a delight. A good tip for cyclists in the west is that the prevailing winds make it easier to cycle from south to north.
Ireland's offshore islands are all served by boat. Ferries also operate across rivers, inlets and loughs, providing useful short cuts, particularly for cyclists.
Travel tips for Ireland.
Everything you’ve heard is true: Ireland is a stunner. The locals need little prodding to proclaim theirs the most beautiful land in the world, and can support their claim with many examples. Everyone will argue over the must-sees but you can't go wrong if you put on your to-visit list the brooding loneliness of Connemara, the dramatic wildness of Donegal, the majestic mountains of Mourne, the world-famous scenery of counties Kerry and Cork, and the celebrated Causeway Coast.
If you stay at a B&B (Bed and Breakfast) eat the big breakfast that is served.. It will last you well beyond midday. Lunch is then often later without much need for a big dinner. Again saving you some dollars.
Buses won't stop unless you put your hand out. If you are taking the bus this is vitally important. But be warned, some days even putting your hand out and waving it around won't be enough to make them stop. So don't be surprised if you see people at the bus stop jumping up and down in desperation when the bus is in view.
While most of the major Irish sights can be taken in using public transport or tour buses, renting a car is worth considering, to get to those spectacular places off the beaten track.
Travel money for Ireland
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.
Sending money to Ireland
When searching around for information on how to get a good exchange rate when sending money to Ireland you need to start with finding out the latest Euro exchange rate for foreign-transfers, which can be very different to the wholesale rate.
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 Ireland
When sending money to Ireland 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 :
Open an account with a BER reviewed FX provider (id docs may be required)
You specify the local or Euro amount you want to transfer
Make a local currency domestic transfer for the requested amount to the provider's bank account in your country
Once your funds are received by the provider the converted EUR amount will be transfered to the recipient account you specify in Ireland.
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!
General advice: The information on this site is of a general nature only. It does not take your specific needs or circumstances into consideration. You should look at your own personal situation and requirements before making any legal, accounting or financial decisions. The foreign exchange rates and products compared on this page and website are chosen from a range of products that bestexchangerates.com (BER) has access to and are not
representative of all the products available in the market.
We may receive referral fees in relation to your activity on the BER website however this doesn't affect the exchange rates or fees you are charged.
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