European Central Bank
The official exchange rates for the Euro are published by the European Central Bank (ECB), which is the Bank that administers the monetary policy within the European Union. The publication is a daily report of 30 currency values that can be accessed as a normal web page and also in xml format that is usually updated around 16:00 Central Europe Time ( CET ) on every working day.
EUR Historical Series
The ECB publishes a historical file starting from 1999.01.04 until present. This file is fully available from the application’s calendar and can be used to extract desired exchange rates month by month. Please, keep in mind that the more you go back in time, more chances that some currencies couldn’t get retrieved, just because they simply didn’t exist.
The plug-in for the ECB is included by default with foxer currency calculator, therefore making all the latest and historical euro exchange rates available to users.
Economic relevance
The European Union is the 2nd largest economy in the world, between the United States of America and China, comprising a single market across the territory of all its 27 member countries that represents 447 million citizens.
From this union, 20 eurozone members have adopted the euro (€) as their primary currency: Austria, Belgium, Croatia, Cyprus, Estonia, Finland, France, Germany, Greece, Ireland, Italy, Latvia, Lithuania, Luxembourg, Malta, the Netherlands, Portugal, Slovakia, Slovenia, and Spain.
As a result, the euro is the second largest reserve currency as well as the second most traded currency in the world after the USD.
Current situation at 2023
War in Ukraine has changed many things in Europe and not for the better. Russia is no longer an energy supplier but a serious threat, and now oil and gas come from the USA and others, at higher prices. All countries in Europe have been affected by this, specially Germany because of the size of his industry and the lack of availability of the Nord Stream pipelines.
This has led inflation to climb up to 2 digits, reaching to an average value lower than 10 (9.9) percent in February 2023 as noted in this inflation report from tradingeconomics.
The European Central Bank and all central banks of the World have reacted to this by increasing Interest rates, and now Europe is facing a recession and the risk of escalating the conflict with Russia.
The Euro exchange rate, of course, has been reflecting this entire process, falling against the USD to a minimum of 0.9565 on September 28, 2022. By April 2023, the Euro has recovered to values near 1.10 € per US$.
European Central Bank country coverage map
Links
Summary table
| Code | ECB |
| Base currency | EUR |
| Currencies | 30 |
| Updated | Monday to Friday |
| Publication | Same day |
| Time | 16:00 CET (UTC+1) |
| Historical Series | Since 1999.01.04 |
Facts and figures
- Countries: 20 / 28
- Population: 342M / 447M
- GDP: 12,933 / 15,193 ( USD Billion )
- GDP per capita: $38,439 / $34,689
Eurozone / European Union
Sources: Dec/2020
tradingeconomics.com & wikipedia