Majority of the European countries converted to Euro when it was introduced, the citizens and business of Europe were quick to adopt Euro after it was introduced, Euro was introduced to the financial world on 1st January 2009, since its introduction it has only grown all across the Europe, though still countries like Britain, Sweden, Norway, Switzerland have not changed their currencies to Euro, but it represents majority of the currency units in Europe. Euro is second most reserved currency in the world, and it does come as any surprise, because 18 out of the 28 members of the European Union have Euro as their currency. Countries like Belgium, France, Italy, Spain, Germany, and Portugal have Euro as their currency.
When it was first introduced back in 1999, it was welcomed by majority of the Europeans, with the Euro, travelers can go anywhere without changing currencies at every stop, certain risks were removed, the risk in exchanging currencies is high anywhere around the world, so the citizens welcomed this, not only this business activities all around Europe increased after the Euro, and inter- Euro trade became much easier, the daily day dealings, accounting and payments were made easier because of the similar currency, Euro had its criticism when introduced but there are people in both favour or against anything. Euro brought much comfort to the people of Europe and it was a very stable currency for a long period of time. But it has faced a slump in the past two, three years. When it was introduced it had an official exchange rate of 1.18 EUR to 1 USD, after some stable days it also reached as high as 1.39 EUR to 1 USD, the current rate of exchange is 1 EUR to 1.24 USD, there has been much appreciation in its value, but there has been some moments of concern for the Euro, if the value of Euro falls against USD, it is a serious threat to it, people who deal in Euro, might switch to USD, if the fall continues.
Euro has mostly been stable and it has been good times in the Euro zone, many say that the EUR is controlled by Germany, well! That is another debate, but the media would want you to believe that, and it certainly looks that way. It is said that the most powerful countries of the European Union have the control over Euro, and Germany is certainly one the most powerful countries across Europe. But whoever controls it should not concern the investor, the rates of the Euro is the most concerning factor for the investors, it was warned back in 2012 that the Euro could face more depreciation in its value, and a lot of people anticipated a real decrease in its value, people who owned the currency wanted to get rid of it, fearing the worse many of them did lose, because the Euro never really got depreciated that much, as it was feared couple of years back and it is still the second most traded currency in the world.
Saturday, November 8. 2014
(Page 1 of 1, totaling 1 entries)