EUR to USD Exchange Rate (Euro to Dollar)

The EUR/USD is the short for the eur to usd currency pair. In the eur to usd (EUR/USD) currency pair, the EUR is known us the base currency or the first currency, and the USD is the quote currency or the second currency. The pair eur to usd exchange rate (EUR/USD) tells how many US dollars are needed to buy 1 euro. Buying euro to dollar or EUR/USD is known as buying Euro, because the Euro is the base currency, and we always buy the base currency in any currency pair. If the transaction price of the EUR/USD pair is 1.3175, it means that we have to pay 1.3175 U.S. dollars to buy 1 Euro.

The euro to dollar is a very popular forex pair in the world, and is heavily traded in forex trading. Because of its extremely low spread & high leverage, it represents the combination of the two largest economies in the the world. The daily trading volume of the eur to usd is 28%, which is very high in comprision of all other currency pairs. There are many various factors that determine the eur to usd exchange rate, such as the interest rate set by the US Federal Reserve (FED) and European Central Bank (ECB).

Euro

The Euro (EUR) highly traded second largest foreign exchange market currency after the United State dollar (USD). The Euro (EUR) is the official currency of the Eurozone 19 of the 27 member states of the European Union. European institutions also officially use the Euro currency. Outside Europe, the special territories of many European Union (EU) member states also use the euro as their currency. Due to the strong currency, the Euro (EUR) is the second largest reserve currency and the second highest trading currency in the world after the US dollar (USD).

The name Euro was originated in 1992 in accordance with the Maastricht Treaty and it was officially adopted on 16 December 1995 in Madrid. The euro (EUR) was introduced to world financial markets as an accounting currency on 1 January 1999. The Euro is managed by the European Central Bank (ECB) in Frankfurt and the Eurosystem. As an independent central bank, the European Central Bank has the sole power to formulate monetary policy. The Eurosystem participates in the printing, casting and the issuance of banknotes and coins of all member countries, as well as the operation of the Eurozone payment system.

USD

The United States dollar (USD) (symbol: $) is also called the US dollar (USD), or American dollar. The US dollar was designated as the world currency for the first time in the Bretton Woods Agreement of 1944 and is the most powerful currency in the world. According to the 1792 Mint Act, the US dollar is the official currency of the United States and its territories. The dollar is divided into cents and one dollar is equal to 100 cents. In addition to the United States itself, the US dollar is also used as the only currency in the two British Overseas Territories of the Caribbean Sea: the British Virgin Islands and the Turks and Caicos Islands. A few countries still use Fed notes for paper money while still minting their own coins, or also accepting U.S. dollar coins.

The dollar was initially traded as silver or gold coins with its weight, and then exchanged as paper currency. The Coinage act of 1792 created decimal currency by creating dime, nickel, and penny coins, as well as US dollar coins, half dollar coins and quarter dollar coins, all of which will be minted in 2020. Several forms of paper money were introduced by Americam Congress over the years.

How to Read Euro to Dollar Chart

The currency pair euro to dollar prices listed on the graphical price chart represent the exchange rates of the two currencies. The chart of any currency pair shows how the exchange rate of the currency pair changes over time. In foreign exchange chat, the first currency in a currency pair represents the base currency, and the second currency on the chart represents the quote currency. Forex charts have time on the horizontal x-axis and prices on the vertical y-axis.

We can view the chart in three different options, such as candlestick chart, line chart and bar chart. The candlestick chart shows the opening price, high price, low price and closing price of each period they represent. The highest and lowest price of any candlestick shows the trading range of the period. The body of the candlestick shows the opening and closing prices of the currency pair. In the eur to usd exchange rate chart, if the transaction price of eur to usd is 1.3315, it means to buy 1 euro, we need to pay 1.3315 US dollars, which means the cost of 1 euro is 1.13315 US dollars.

EUR to USD Exchange Rate History

The history of the eur to usd exchange rate began when the euro was first issued in January 1999. At taht time the opening eur to usd exchange rate was 1.1795, although the exchange rate subsequently fell sharply. When the new currency began to circulate in most parts of Europe in 2002. However, due to the increasing popularity of the combined Euro currency, the eur to usd exchange rate has gradually risen, returning to the psychological 1.000 parity in November 2002. The price rose to 1.3667 in December 2014 and fell to 1.1639 in November 2015. After December 2015, the currency pair euro to dollar continued to rise, and finally reached the highest level in history in July 2008, 1.6037, after the US subprime mortgage crisis caused a crash in July 2008. Lehman Brothers in September of that year.

Since reaching its peak, the euro has been hovering in a wide range of fluctuations, with a drop of 1.1875 low in June 2010, because the Greek sovereign debt crisis which was started in late 2009 and has increased concerns about the possible disintegration of the euro zone. Although the two have since reclaimed considerable territory, concerns about the debt burden of less affluent European countries are still putting pressure on interest rates.

EUR to USD (euro to dollar) Montly historical data

Summary

In the above data table, the eur to usd exchange rate is the weekly exchange rate. The table shows the weekly opening price, the highest price, the lowest price and the closing price of the euro against the US dollar. You will find the Eur to USD exchange rate between 1998 and 2000.