Exchange Rate Euros Are at Their Most Competitive at Best Exchange Rates UK

August 13th, 2012

A history of exchange rate euros from a online exchange rate specialist – Best Exchange Rates UK. The central bank in Europe is called the European Central Bank (ECB) and as of 2011, 17 EU member states have adopted the Euro. It is the second most traded currency on the forex market, as many institutions and individuals trade in the Euro. Other commonly known national names for the Euro are Teuro (German), Eumeln (German), Quid (Irish English), Leru (Spanish), Neuro (Italian), and Ege (Finnish).

 On January 1st 1999, eleven of the countries in the European Economic and Monetary Union (EMU) decided to relinquish their own currencies and adopt the Euro (EUR) currency.  These included Austria, Belgium, Finland, France, Germany, Ireland, Italy, Luxembourg, the Netherlands, Portugal and Spain. The Vatican City also participated in that change over. Greece followed suit on January 1, 2001, Slovenia on January 1st 2007, Malta and Cyprus on January 1st 2008 and Slovakia on January 1st 2009, all contributing to better exchange rate euros.

 Any region that previously used currencies from the above countries has also adopted the Euro. This applies to the Principality of Andorra, the Principality of Monaco and the Republic of San Marino. This also applies to any territories, departments, possessions or collectives of Euro-zone countries, such as the Azores, Balearic Islands, the Canary Islands,Europa Island, French Guiana, Guadeloupe, Juan de Nova, the Madeira Islands, Martinique, Mayotte, Reunion, Saint-Martin,Saint Pierre and Miquelon, to name just a few.

Euro bank notes and coins began circulating in the above countries on January 1st 2002. At that time, all transactions in those countries were valued in exchange rate euros and the “old” notes and coins of these countries were gradually withdrawn from circulation.

At Best Exchange Rates UK we have been following the Euro since its inception and can get you some of the best exchange rate euros.