Exchange Rate Euros: The Euro as a Currency.

January 3rd, 2013

It is nearly 15 years now since the Eurozone began and we have seen the Euro become the second most widely held international currency on the foreign currency exchange after only the United States dollar. Exchange rate euros have become one of the most competitive currencies to be trading in on the international stage and it is worth, as we near such a significant milestone in the life of a currency, to have a look at some of the trials and tribulations it met with on the way.

Since its introduction the euro has shown a fantastic growth in the international foreign currency exchange increasing in ownership and trade by 10%. Conversely, the US dollar has fallen by 6% and the Yen by 3%. This is impressive for any fledgling currency but it is important to remember that exchange rate euros were built upon the history of the Deutsche Mark, which was itself a dominant currency and held fantastic money exchange rates.

Debate rages to this day about whether the Euro could eventually become an international reserve currency setting a benchmark for foreign currency exchange. We have seen attempts in the past to create a gold standard. Could a Euro standard be the way forward for an integrated world as we make our way out of the crisis? Only time can tell. Alan Greenspan, former head of the federal reserve has stated how he believes exchange rate euros could feasibly replace US dollars as the international reserve.

International status and usage of the Euro has grown massively since its introduction. As nation states have seen money exchange rates putting the Euro in an even stronger position in the foreign currency exchange they have been more tempted to join up. Since the initial 11 nations joined the Eurozone in its initial introduction in 1999 exchange rate euros have been adopted by Greece, Slovenia, Malta, Cyprus, Slovakia and Estonia. Several other countries are in the process of becoming eligible to become part of the single European currency. With money exchange rates being in a constant state of flux; perhaps a single Europe with a single European currency is a very real future we could see.

To learn more about exchange rate euros and how they can benefit you visit Best Exchange Rates UK.