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How old is the Euro? Euro was virtually born in 1999

Published on 5 July 2017 in News - Pages by Raffick Marday

How old is the Euro

The Euro is an international currency used by the institutions of the European Union, the same way it is the official currency of 19 out of 28 states of the Union.

History

The Euro was virtually born in 1999, being a goal of the European Union since the 1960’s, and began to circulate in 2002, rapidly taking over former national currencies and slowly expanding through Europe.

With a historical value higher than the United States Dollar, and a yearly inflation of 1.1%, the Euro definitely exceed in calling to the attention of entrepreneurs and bankers all around the world.

As of today, the Euro holds a value of 1.13719 United States Dollars.

The news

Mario Draghi and Donald Trump have been accelerating the escalation of the euro in front of the dollar. The German bank retired its previsions from a falling to parity euro.

On the final lap of 2017, the debate on the eventual parity of the euro and dollar throughout the on-going presidential exercise has been multiplied. Donald Trump’s triumph over the 2016 American elections has accelerated the raise on community currencies. A variety of promises from a multimillionaire infrastructure program meant to historically reduce taxes have drastically increased inflation previsions, and by extension, the raise of all types of interests.

The inflation data in the euro area dropped from a 1.9 (April) to a 1.4 percent, which was mainly influenced by energy prices. With the acceleration of the escalation, the euro is continuously ascending, registering max values close to 1.14 dollars since June.

The German Bank’s position

With the constant raise of the European currency, financial analysts at the German Bank have decided to make drastic changes to their previsions over the currency market.

Previously, they found themselves estimating towards parity, by fixing the euro value on 1.03 dollars by the end of 2017. Today, a change of scenery has turned the tables, and the predictions dictate more raises for the euro value during the second semester of the year, up to closing it by the 1.16 dollars.

Draghi

Mario Draghi, president of the European Central Bank, has reinforced his optimism over the economy in Europe, by getting rid of political risks as an ongoing uncertainty. Draghi ensures politics are becoming more of an impulse for the Eurozone, and would restore inflationary pressures, while healing the scars inflicted by the European crisis in general.

The ECB president has told the bank’s annual conference in Portugal this Tuesday that “All the signs now point to a strengthening and broadening recovery in the euro area”, and that “Deflationary forces have been replaced by reflationary ones”.

Trump

The impulse granted by the European Central Bank to the euro has added some weight for the dollar’s registration to carry with. Yesterday’s delay on the health reform proposed by Trump once more unveiled the difficulties the new American government is having to jump start their improvements.

The market finds itself once more questioning the expectations over any possible promises for the investors; such is the case of the millionaire infrastructure program, and specially, the greatest tax reduction in the history of the United States. All of these facts were key elements of the tracks the dollar has taken since the elections last November.

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