euro

(noun)

The currency unit of the European Monetary Union. Symbol: €

Related Terms

  • European Union
  • transparency

Examples of euro in the following topics:

  • The European Union

    • In 1999 the euro was duly launched by eleven of the then fifteen member states of the EU.
    • The eurozone (constituted by the EU member states that have adopted the euro) has since grown to seventeen countries, the most recent being Estonia, which joined on 1 January 2011.
    • Sweden has circumvented the requirement to join the euro by not meeting the membership criteria.
    • The euro and the monetary policies of those who have adopted it in agreement with the EU are under the control of the European Central Bank (ECB).
    • Discuss the establishment of the European Union (EU) and the Euro
  • Exchange Rates

    • You will need to buy Euros for your stay there.
    • You go to the local money changer and see a direct quote of 0.5 USD/EUR, which means that one US dollar will get you 0.5 Euros.
    • However, in this time, there is a lot of demand for European goods worldwide and people want more Euros to buy them.
    • You realize that the Euro has become much more expensive than the previous year, and you need to spend double the amount of USD to get the same amount of Euro you had last year.
    • The quotation EUR/USD 1.25 means that one euro is exchanged for 1.25 US dollars.
  • Trading blocs and agreements

    • It meant the birth of a market that was larger than the United States, and the introduction of European Currency Units (Euros) in place of the individual currencies of member nations.
    • However, on 1 January 1999, 11 of the 15 member nations took a significant step toward unification by adopting the Euro as the common currency.
  • Credit Operations

    • Long-term interest rate statistics for non-Euro countries plus Greece, Portugal, and Ireland.
  • International Exchange of Money

    • For example, it permits a business in the United States to import goods from the European Union member states, especially Eurozone members, and pay Euros, even though its income is in United States dollars.
  • Types of Currency

    • Since then all reserve currencies have been fiat currencies, including the U.S. dollar and the euro.
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