Euro is the currency used by 17 countries out of 27 countries of Europe. This currency was introduced in 1995 and started circulating in the market in 2002 and soon become popular. The countries which use it as their official currency are Austria, Estonia, Belgium, Finland, Cyprus, France, Greece, Germany, Malta, Italy, Luxemburg, Spain, Portugal, Slovenia, Slovakia and Netherlands. Around three thirty two million people used this currency daily. Exchange rate is the term used to describe the rate at which one currency switch over with the other currency. This currency is on the second number both in terms of reserved money and trading money. This currency is on the second number in popularity and is considered as safe form for saving anyone’s personal assets. A large number of people use it in their daily life for their expenses.
Many people find it better to save their money in the form of Euro because its rates are not fallen easily so many individuals prefer it in order to avoid any crises in money. It is also widely used in trading because this currency is accepted in many parts of the world like dollar and people are not required to change the form of money while they are trading in some other country. At present 15 billion is in the market circulation. You will definitely find it the best way to save your money in this form as it is one of the safest money.
If we go towards its history we watch that this name was first introduced in 1995 and introduced in market in 1999 and then its circulation was started in 2002. This currency is managed by the European Central Bank and the central banks of the countries in which it is used as official currency. European central bank is responsible of circulation and supply of this currency while the central banks at country level are responsible for its minting, printing and distribution throughout the Europe.
When you change your money from other currency is known as exchange rate and it’s a market now where many companies are involved where you get your currency exchanged with the currency you want. These companies are registered by the government and can’t do any business secretly. They are allowed to exchange money up to certain limit and are not allowed to send this money out of the country. If they don’t follow rules and regulations then they are black listed. They have rules and regulations that are designed by the respective authority.
The exchange rate is a wide term which has enclosed many terms inside it. You can have the best rate of your money here. It is interesting to note that currency buying and selling rates are different. Buying is done at a higher rate than the selling of your currency. The reason behind this is that the money exchanging companies keep their profit. They are very highly profit gaining organizations. They give high tax to governments and are responsible to bring great revenue to the country.
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