Historical Euro Exchange Rates

The value of the Euro has to depend on a lot o factors which include political, economical and geographical aspects. The Euro has to balance small economic countries like Spain, Greece, Italy, France and Portugal along with giants like UK and Germany. Each country’s economy will be different and the inflation and unemployment rate in one country might give rise to sluggish economic conditions which the European Central bank will find difficult to equalize.

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Even though the current scenario is not so good for the Euro, and the only way out seems for the Forex investor would be convert Euros to Dollars, the strength of the Euro can bounce back as seen in previous years. .

Euro entered the market scene by replacing the different European currency units in the year 1999. By 2002, Euro banknotes and coins entered circulation. It was to become a major name in the Forex market.

When one looks back at the historical Euro exchange rates, one can see how there was a high in the Euros shortly after it was introduced. 2000 and 2001 saw the USD and EUR rallying with the EUR being stronger after 2002. This was a result of the improvement in European economy. October 2000 saw a low in Euro, which is believed to be the lowest in history. This was due to improper valuation of Euros. It has been on the rise since 2003 after experiencing a sharp decline. 2004 was a good year, but the economy has been slipping since 2005 with only a momentary relief in 2007. If the trend continues, it may be good for the Euro. However, if history repeats itself, the Euro will retain its position as a major player.

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Historical Euro Exchange Rates

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Copyright 2010 forexhottips.com , All rights reserved.
( Historical Euro Exchange Rates )