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 0.8485 was trading 4.7% belowAVG:0.8903 with LO:0.842 and HI:0.9264 (90 days). ALERT: Today USD/EUR is UP 0.8%
Travel, Currency and Money saving tips for Vatican City
It might only cover about half a square kilometre, but the Vatican looks every inch a religious superpower. Its holy buildings are monumental in scale and its lavishly-decorated halls house some of the world’s most celebrated artworks.
The actual Vatican is very small, a few buildings, but its meaning is global. Whatever it means to you, it is worth seeing. You don't need a tour, you can walk in and see it all, stunning architecture, and the awe of centuries of faith. Just, if you aren't up for a very hard climb and you want to see the view of Rome from the top, it can be a claustrophobic climb. Take the lift when you if you plan to see Rome from the top the Vatican. The climb to the lovely view at the top can be hard, and not very pleasant. The lift, however, can take you you up to one of the most amazing views of the city. Expect it to be crowded. Always expect a very long queue (30 mins minimum) as the queues are long every day. Rome is an expensive place to stay, but if you look around the internet you can can find good bargains. It is well worth looking around, you can find amazing places cheaper than most with a bit of effort.
Start early at the Vatican Museums. This colossal museum complex occupies the 5.5-hectare Palazzo Apostolico Vaticano and contains one of the world’s greatest art collections, culminating in the Michelangelo-decorated Sistine Chapel. There are kilometres of galleries to explore, with everything from Egyptian mummies and Etruscan bronzes to classical sculptures, cartographic tapestries and Renaissance canvases. The Stanze di Rafaello (Raphael Rooms) will stop you in your tracks as you pause to marvel at the Renaissance maestro’s amazingly detailed frescoes.
The Vatican Museums’ star attraction, the Sistine Chapel boasts two of the world’s greatest masterpieces: Michelangelo’s ceiling frescoes (1508-1512) and his Giudizio Universale (Last Judgment; 1535–1541). For the best views of the ceiling design, which covers 800 square metres and depicts episodes from the Old Testament, cross to the chapel’s main entrance in the east wall (opposite the visitor entrance).
Entering St Peter’s Basilica for the first time is an unforgettable experience. The size and opulence of the cavernous 187m-long interior are breathtaking to behold, and wherever you look your gaze falls on yet another priceless masterpiece. One of the basilica’s most celebrated works is Michelangelo’s Pietà, a moving sculpture of the Madonna cradling her lost son near the main entrance.
Travel money for Vatican City
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 Vatican City
When searching around for information on how to get a good exchange rate when sending money to Vatican City 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 Vatican City
When sending money to Vatican City 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 Vatican City.
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.