Understanding the Euro Rate

The Euro is the official currency of 13 countries in Europe. Finland, Italy, Austria, Belgium, Germany, Spain, Portugal, Slovenia, France, Greece, Ireland, Luxembourg and the Netherlands all use the Euro. There is approximately EUR610 billion Euros in circulation right now. That amounts to about $800 billion in USD.

The Euro rate is the current value and exchange rate of the Euro. Whether you are a businessperson or you are just traveling or shopping, it is important to know the Euro rate when dealing financially with those 13 European countries.

More than 320 million Europeans use the Euro, so knowing the Euro rate will help you to do business with those people. The value of the Euro rate is greater than that of the US dollar rate. What that means is right now, one US dollar ($1) converts to only .69 Euros.

The Euro rate ultimately affects a great deal of the foreign exchange, or forex, market. The economy of those 13 European countries serves as the main basis for the Euro rate. Negative factors such as war, drought and recession also affect the Euro rate. On the other hand, positive factors also affect the Euro rate. These positive factors can include an economic boom and lower interest rates.

Knowing the value of the Euro rate is vital if you are interested in or are planning to invest in the foreign exchange market. The foreign exchange market is the single most pervasive market in the world, and exists anywhere where people can exchange one nation’s currency for another nation’s currency.

If you need more information on the Euro rate and the foreign exchange market, you can find a wealth of information on the Internet.