Euro exchange rates
This knowledge guide looks at the best print and electronic sources for official and traded euro exchange rates.
Before the changeover on 1 January 1999 the European Currency Unit (ECU) existed as a basket currency made up of the sum of fixed amounts of 12 out of the 15 currencies of the EU member states. The value of the ECU was calculated as a weighted average of the value of its component currencies. On 1 January 1999 the ECU was replaced by the Euro on a one-for-one basis.
The European Commission website provides more information about the history of the currency.
Official Euro exchange rates
European Central Bank
EU sanctioned daily Euro foreign exchange reference rates are available from the European Central Bank in their Euro Foreign Exchange Reference Rates table that lists the Euro rates against the currencies of countries that have not joined the Euro or that are non-EC countries. The ECB also lists the Daily nominal effective exchange rate of the Euro, that is based on the 'weighted averages of bilateral Euro exchange rates against 12 major trading partners of the Euro area'.
The European Central Bank also collates monthly, quarterly and annual figures in the ECB Economic Bulletin that are provided in PDF format. The index to the current bulletin, and back issues for the past year and a half are available along with publication dates for future editions. This gives nominal and real effective exchange rates for the Euro (with the real rates calculated in three alternative ways) plus bilateral ECU or Euro exchange rates against 13 currencies for countries that are not part of the Euro or that are non-EC countries. From 1999-2014 this publication was known as the Monthly Bulletin.
Traded Euro exchange rates
Bank of England
For the period of time following the introduction of the Euro on 1st January 1999 until the introduction of the Euro in its physical form in 2002 the Bank of England maintained "national competitiveness indices" for the currencies that entered the Euro. These were calculated using a combination of the fixed rate from 31st December 1998 and the movement of the Euro against sterling and the dollar. These rates are available through the Spot Exchange Rates section of the Bank of England's Monetary & Financial Statistics Interactive Database but are not to be regarded as official rates.
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