Euro To Dollar – This conversion tells of how many units of dollars the euro currency can buy according to the most recent rate of exchange during comparison of both currencies.
The euro in recent times is worth $1.05, which means one euro could buy 5 cents more in services than a dollar. Compared to three years ago, this is a lower statistics opposed to $1.37 back then. This increases the place of the dollar currency in the European Union than it was three years ago which sound like a great opportunity to be vacating to Europe.
History Of Euro To Dollar Conversion
Between 2000 to 2010 The euro was officially launched as a currency and traded on a $.87-.99 until 2002 when it made its way into e-transactions and rose 63 percent within which the U.S. grew in 60% debt and the euro became $1.3269.
2011 – The euro kicked off at $1.3371, went higher to $1.4675 as the European Central Bank (ECB) raised the interest rate to 1.5%, which made banks increase rate in loans and saving services to clients but by December, the euro made its way back to $1.33.
2012 – Started the year at $1.274 with an increase to $1.3452 in February, during which it faced a huge crisis that was averted and it closed the year at $1.3186.
2013 – The ECB lowered its rate to 0.25 percent towards the end of the year as a way to tackle its fears of deflation and it ended the year at a bit of $1.3779. The starting point was $1.3195, fell slightly to $1.2990 in March with promises of the eurozone economy strengthening, so the euro itself will rise but that didn’t really happen.
2014 – The Ukraine crisis did heat up this time and the euro fell hard only to remain above $1.30 until September 4 with the fear of Greece dropping out of the Eurozone having concluded the Presidential election. By year’s end, it was $1.25 even though it started out at $1.3767
2015 – The euro fell to the rate of $1.12 due to some ECB purchase of €60 billion in euro-denominated bonds to boost the EU’s economy. When the purchase started, the euro fell to $1.0524 and throughout the summer it only rose to $1.10. The euro ended the year at $1.0903 with some analysts predicting a fall to equal one dollar.
2016 – Came and started the show at $1.08 then rose to $1.13 and remained in that range till Britain left the EU and the euro fell to $1.11 the next day. traders worked with the uncertainty of the vote weakening the Euro economy but later calmed it so the euro rose to $1.1326 and fell to its low in December to $1.039
How Exchange Rate Affects Euro To Dollar Conversion
The euro’s exchange rate is flexible and changes every day as the currency is used to trade in the foreign exchange market but the value is solely dependent on the following factors.
- The European Central Bank’s Interest Rate
- The Debt Levels Of Individual Countries, Like Greece.
- The Strength of the European Economy
These factors enable forex traders to know when the currency will rise in value which only occurs when the economic growth and interest rates are increasing.
Because the exchange rate of from euro to dollar change with intervals, you can check the google for the present rate as at the time you stumbled on this page