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 0.8529 was trading 4% belowAVG:0.8888 with LO:0.842 and HI:0.9264 (90 days). ALERT: Today USD/EUR is UP 0.6%
Travel, Currency and Money saving tips for Saint Barthélemy
There’s a reason why celebrities, models, socialites, and It girls consistently retreat to the tropical paradise of St. Barth’s. The island, an overseas collectivity of France, blends the sophistication of St.-Tropez with the laissez-fare Caribbean lifestyle—which means it’s exclusive yet totally unpretentious. Walk into any beachfront restaurant, for instance, and you’ll see well-dressed women with Birkins eating lunch beside sandy, barefoot beachgoers; walk into a club wearing jean cutoffs and no one will raise an eyebrow. It’s a specific brand of laid-back luxury that breeds instant converts. Make one trip, and you’ll find yourself immediately hooked.
With such a dreamlike setting, St-Barth is, unsurprisingly, a destination of choice for the rich, famous and beautiful for its laid-back tempo, luxurious small-scale hotels, designer-label boutiques and outstanding restaurants. But although St-Barth is undeniably an expensive destination, all beaches are accessible, public and free, and activities from surfing, windsurfing and kitesurfing, to sailing, diving and snorkeling are all possible here. If you visit outside of high season, you can score fantastic accommodation deals.
How to get to Saint Barts?
There are no direct flights to St. Barth’s, unless you charter your own plane. If a Puddle Jumper isn’t a possibility, the next best option is flying to Princess Juliana International Airport on the Dutch side of St. Maarten, where, upon landing, you’ll have to choose your own adventure for the final leg: a 15-minute plane ride or a roughly 45-minute ferry crossing. Flying will get you to paradise quickly, but the flight itself—a roughly dozen-seat puddle-jumper—is not for the faint of heart. (The runway in St. Barth’s also happens to be the second shortest in the world). Or there’s the ferry: an incredibly unglamorous but efficient option for nervous flyers.
No cruise ships dock at St-Barth, but a few anchor offshore and launch tenders to Gustavia's ferry terminal. If you're arriving by yacht, you must contact the port office on VHF channel 12 two hours prior to arrival.
Once in St. Barth's there is no public transportation on the island. Many travelers pick up a rental car; there are 20 agents on the island, including Avis and Hertz, though traffic is a major problem on St-Barth and public parking spaces are thin on the ground. There are also 38 licensed taxi drivers. Hotels will be able to call one for you. Taxi fares range from pricey to outrageous, even for short distances. There are no set fares, so prices are all over the board. At minimum, it costs between €15 and €45 from Gustavia to the airport, and between €30 and €60 from Gustavia to Petit Cul-de-Sac. All prices then increase by about 50% between 8pm and 6am and all day on Sunday.
Travel tips for St. Bart's.
One thing St. Barth’s regulars love about the island is the diversity of its beaches. There are 16 of them in total, each with its own distinct personality. As with most of the Caribbean, there is also something called "Island Time". This means that things may actually take a lot longer than one expects. The best way to deal with Island Time is to simply relax and enjoy yourself while you are waiting.
The official currency of St. Barthélemy (St. Barts, St. Barth) is the Euro. However, US dollars and major credit cards are widely accepted throughout the island at local exchange rates. Note that although Visa and MasterCard are widely accepted, many merchants do not accept American Express or Discover cards. A valid passport is required to enter St. Bart’s. This policy has been in place for some time. A visa is not required for US citizens unless you plan to stay for more than 90 days. No visa needed for citizens of the European Union, Canada, Mexico, Brazil, and Israel.
November through June is the best time to visit St. Bart's. From December through April, the sun is especially scorching. December is considered peak season and requires bookings six months in advance. Clouds and showers sometimes interrupt the warm weather, especially during the fall. Avoid the rainy season in September, October, and November, when many establishments close, however during the off-season you can get some great deals for a place that is usually quite expensive.
Travel money for Saint Barthélemy
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 Saint Barthélemy
When searching around for information on how to get a good exchange rate when sending money to Saint Barthélemy 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 Saint Barthélemy
When sending money to Saint Barthélemy 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 Saint Barthélemy.
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.
The use of terms "Best" and "Top" are not product ratings and are subject to our disclaimer.