07-16-2007

The euro at all time high

Lately we’ve seen the euro getting stronger against the dollar for each and every day and today we’re once again at an all time high level of 1.378200 dollars for each euro:

USD-EUR at 2007-07-16

Will be continue to see this development? Most likely since the European central bank will keep the interest rate at a high level and also maybe increasing it some more while the US central bank will most likely stay at the same level or maybe even decrease the interest rate. This development will of course make it harder for European companies trading mainly in USD since they will have a harder time to compete with US companies. The good part is that US companies will export even more then before which leads to more money flowing in to the US (higher demand for a specific currency = higher exchange rate).

Some exchange rates against the dollar (today 2007/07/16).

1 EUR in other currencies 2007/07/16:
US Dollar 1.378200 USD
British Pound 0.677950 GBP
Japanese Yen 168.679993 JPY
Swiss Franc 1.657900 CHF
Swedish Krona 9.156000 SEK
Canadian Dollar 1.441400 CAD

A great thanks to Xavier Finance for the exchange rates and the graph :D

Posted by bylla in Currency, Economics, English, Finance | RSS 2.0

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