Euro (EUR)
The euro is the shared currency of the European Union member states that use it and the second most traded currency after the dollar. The European Central Bank sets one monetary policy for the whole euro area.
The latest available mid-market reference is 1 EUR = 1.1113 USD. The table below shows the same rate against the other major currencies.
Key facts
Structural details reviewed . Regimes and issuing arrangements can change.
The role of the Euro
The euro is used for most trade inside the euro area and is the second most held reserve currency. It is also the reference currency for several European and African pegs, including the Danish krone and the Moroccan dirham's basket.
A short history
The euro was introduced in 1999 for electronic payments and as cash in 2002. It replaced national currencies such as the deutsche mark, the French franc and the Italian lira.
What moves the Euro
ECB policy, euro area inflation and growth, energy prices and the region's trade surplus all move the euro. Because the euro area imports most of its energy, oil and gas prices feed through quickly.
Live EUR exchange rate
| Currency | 1 EUR equals |
|---|---|
| US Dollar (USD) | 1.1113 |
| British Pound (GBP) | 0.8361 |
| Japanese Yen (JPY) | 177.26 |
| Chinese Yuan (CNY) | 7.4298 |
| Indian Rupee (INR) | 104.30 |
| Canadian Dollar (CAD) | 1.5824 |
| Australian Dollar (AUD) | 1.6217 |
| Swiss Franc (CHF) | 0.9244 |
Mid-market rate updated . Banks and transfer providers add a margin. About our rates.
EUR conversion pages
Guides for Euro
Other currency profiles
Euro questions
What is the Euro?
Euro (EUR) is used in the following countries and territories: The euro area countries, plus Kosovo, Montenegro and several pegged regimes. Central bank: European Central Bank. Exchange rate regime: free float.
Which countries use the Euro?
The Euro is used in the following countries and territories: The euro area countries, plus Kosovo, Montenegro and several pegged regimes.
What affects the Euro exchange rate?
ECB policy, euro area inflation and growth, energy prices and the region's trade surplus all move the euro. Because the euro area imports most of its energy, oil and gas prices feed through quickly.