Since its introduction as the currency for the majority of Europe, the euro has been fighting with the US dollar for top spot in currency exchange.
The exchange rate history of the US dollar and euro
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Today’s mid-market rate
We’ve gathered today’s best rates to inform your decisions when sending money from the US to Eurozone.
The official currency of the United States, the USD has been in circulation for well over 200 years and is now the world’s leading reserve currency. It took prominence in the market following World War II, when the United States used its exports and money to assist the war-stricken nations of Europe to recover from the damages. Since then it has become the most widely held currency in reserve around the world. Despite its faltering throughout the early millennium, the USD has been steadily gaining against the euro mostly due to its economic recovery and a continued weakness in the Eurozone.
Best GBP > EUR exchange rates
|1 USD =||1.0000||1.3379 Inverse: 0.7474||1.3553 Inverse: 0.7378||0.918899 Inverse: 1.0883||6.8915 Inverse: 0.1451||0.77776 Inverse: 1.2857||64.080002 Inverse: 0.0156||19.0284 Inverse: 0.0526||49.880001 Inverse: 0.0200|
|1 AUD =||0.7474 Inverse: 1.3379||1.0000||1.0130 Inverse: 0.9871||0.6868 Inverse: 1.4560||5.1510 Inverse: 0.1941||0.5813 Inverse: 1.7202||47.8960 Inverse: 0.0209||14.2226 Inverse: 0.0703||37.2824 Inverse: 0.0268|
|1 EUR =||1.0883 Inverse: 0.9189||1.4560 Inverse: 0.6868||1.4750 Inverse: 0.6780||1.0000||7.4997 Inverse: 0.1333||0.846404 Inverse: 1.1815||69.735612 Inverse: 0.0143||20.7078 Inverse: 0.0483||54.2823 Inverse: 0.0184|
|1 GBP =||1.2857 Inverse: 0.7778||1.7202 Inverse: 0.5813||1.7426 Inverse: 0.5738||1.1815 Inverse: 0.8464||8.8607 Inverse: 0.1129||1.0000||82.39044 Inverse: 0.0121||24.4656 Inverse: 0.0409||64.1329 Inverse: 0.0156|
US dollar historically strong against the euro
The euro (EUR) did have a strong start when it was first introduced. In 1999 it was first adopted and used in electronic transfers only, but was finally launched in 2002 as a true currency. Surprisingly, the EUR gave the USD a run for its money and transactions between the two currencies ran at a very tight range. At some points they were almost equal in value. That changed as the subprime mortgage crisis began to take hold of the US economy, causing the USD to lose 37% of its value against the EUR. Foreign exchange traders lost confidence in the USD, and many began trading on the EUR instead. The value of the USD against the EUR reached an all time low at the start of 2008, when it was valued at 0.526 euro. It was at this time that the economic crisis began to spread around the world and the value of the euro started to sink.
Further increasing the strength of the USD was the United States’ aggressive policies towards fighting its weakened economy. The ECB also increased their prime rate to 1.5%, causing a further rise in its value as the EUR continued to drop. This trend in growth continued throughout 2010 and 2011 as the US market grew stronger, only interrupted by periodic falls against the EUR when the ECB made attempts to stabilize the Eurozone.
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US dollar to euro exchange rate history
Below you can find the average exchange rate for the past ten years.
|USD = EUR||0.8913||0.9370||0.7840||0.7830||0.8090||0.7480||0.7850||0.7480||0.7110||0.7600|
Data courtesy of the IRS.
The table below takes you through the value of the euro against some major currencies since its introduction in 1999.
|Chinese Renminbi yuan||9.5983||8.3830||10.8627||9.7398||7.1516|
The US dollar fluctuates slightly against a weaker euro
Starting in 2012 the Eurozone was in a full on economic downturn, with a number of its participating nations coping with a rising public debt. Growth was at a standstill and combined with a likelihood of deflation, the euro further weakened against the USD. Despite some stability towards the end of the year, the USD still remained higher than it had been at the same time in 2011, finishing at a high of 0.681 EUR.
The recent Greek debt crisis coupled with political instability in the Ukraine has allowed to USD to retain its place over the euro since 2013. In 2014 the United State unemployment rate began to drop and there was a surge in consumer confidence which further strengthened the dollar, putting it at an 11 year high against the EUR in 2015. This confirmed the predictions that the fall of the USD would be short lived.
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