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Euro/dollar indicates the Foreign exchange rate Euro expressed in American dollar, i.e. the Valeur of a Euro expressed in American dollar. It is usually written: EUR/USD. It is the financial instrument more treated in the world.

Confusion to be avoided

One should not in no case to confuse it with Eurodollar, which has nothing to do with the Euro. This term, forged in the Years 1970, indicates deposits in dollar held out of the the United States, and by extension, of the future on LIBOR dollar.

History before 1999

If the Euro succeeded the ECU well, both currencies are quite different. In particular, the ECU, which was a basket, contained Monnaie S like the Pound sterling, which were not integrated in the Euro. The two European currencies thus coincided only briefly, during closing times of the gone between the end of 1998 and the beginning of 1999 and, if the ECU still existed, it would have a value now very other that of the Euro.

If one wants to reconstitute the value that the Euro compared to the dollar would have had before its crystallization of December 31st, 1998, it is advisable to use the Foreign exchange rate vis-a-vis the dollar of a national Monnaie, and to apply to him its convertion rate into Euro. For example, one will take: 6.55957 and one will divide it by the value of the dollar into Francs French. The result of calculation is reproduced on the graph opposite for the Franc French (in red) and the Deutschemark (in blue) for all the period which goes from the introduction of the mode of the floating Changes by Richard Nixon to that of the Euro.

During the ten years preceding its introduction, the Euro would have thus had a median value of about 1,1825 US Dollar calculated with the Franc French and 1,20 US Dollar calculated with the Deutschemark.

History since 1999

Evolution:

  • January 4th, 1999: 1 EURO = 1,1680 USD
  • October 26th, 2000: 1 EURO = 0,8252 USD (low course since 1999, at August 31st, 2007)
  • September 20th, 2007: 1 EURO = 1,4051 USD
  • October 31st, 2007: 1 EURO = 1,4504 USD (higher course since 1999, at October 31st, 2007)
  • November 2nd, 2007: 1 EURO = 1,4479 USD
Sources: European central bank, Banque de France.

See too

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