EUR/USD is the most popular trading couple there is. Trading with it is classic of trading, right? About 60 percent of all equity trades is EUR/USD. And while dollar is pretty well-known and researched. What do we really know about euro? And believe me, there is a lot of interesting things and facts that euro can surprise us with.
1. Introduction.
2. Implementation.
3. Symbol.
4. Money.
5. Bills.
6. Importance.
7. The future.
1. Introduction.
First talks about introducing euro to the untied European system began in 1970s. A lot of thought went into it – whether it is going to be good for economy and politics of the country, how will the world react and so on. Major steps towards real introduction were only taken in 1992. After that it was smooth sailing.
2. Implementation.
The currency was first implemented for electronic use on the first day of 1999 for electronic payments. The real paper bills first saw the world 3 years later. It was first introduced in 12 countries – Germany, France, Italy, Spain, Luxembourg, Belgium, The Netherlands, Ireland, Finland, Austria, Portugal and Greece. After that the other countries of the current Eurozone joined one by one.
3. Symbol.
International and markets symbol for euro is €. It came from the Greek alphabet.
4. Money.
There are different coins and bills for the currency. And each country is free to put whatever they wish on the coins issued in their borders. With that all of the bills and coins no matter what country they originated from are accepted throughout the Eurozone.
Coins of 1, 2, 5, 10, 20, 50 cents as well as 1€ and 2€ are available. They are recognized in all of the Eurozone as well. Also euro cents are surprisingly protected so that there are no fakes circulating in the Union.
5. Bills.
Euro bills are also very interesting. They start with 5€ bill and go all the way up to €500. The denominations are written on the notes in three different scripts: Greek, Roman, and Cyrillic. The bills themselves vary in color. €5 is grey, €10 is red, €20 is blue, €50 is orange, €100 is green, €200 is yellow, and €500 is purple.
Unlike their metal counterparts, bills are of unified design throughout the Union.
6. Importance.
Euro is a valued and a very important currency in the world. Even though we are used to the notion that dollar is the most popular currency, due to its known instability a lot of countries are now preferring to deal in euro rather than in the greenback. Central Bank of Europe has been long prepared to crown euro as one of the most important and used currency in the world and something tells me that they are going to succeed in they plan.
7. The future.
Lucky for Eurozone Great Britain has never been a part of it. That means that after Brexit is finalized, euro is not going to suffer the loss of one of the carriers of the currency. Although there might be a blow to the economy of Eurozone it is likely that traders are going to view it as one of the safe havens for trading after the process if dealt with. And that is only going to make economy of Eurozone stronger.
