Eurozone Economic Information
Central Bank: European Central Bank
Currency: Euro (EUR or €)
The Eurozone includes members of the European Union that use the euro as their common currency. Considered a major global reserve currency, second to the U.S. dollar, the euro was formally put into circulation in 2002. As a stable currency from one of the world's largest trading powers, the euro has become an alternative currency to investors and countries to move into when confidence in the U.S. economy declines.
The 15 European Union member states using the euro
Historical foreign currency exchange rates
 Downward Trend |
 Upward Trend |
| Source: These exchange rates are interbank rates as published by Interactive Data as of . These rates were not available to retail customers and were not the rates offered by EverBank®. Past performance does not guarantee future results. |
A few factors to consider when evaluating the euro:
Reasons to consider
- Since its introduction in 1999 at $1.18 (EUR/U.S.) through 2007 at $1.47 (EUR/U.S.), the euro has steadily increased in value vs. the dollar by 25%.
- As a reserve currency, the euro reached record levels in 2007 with an increase in shares of 26.4%. Conversely, shares for the U.S. dollar dropped to its lowest recorded level since 1999 to 64.8%.
Risk factors to consider
- Continued appreciation of the euro could impact the competitiveness of exports from Eurozone members. If European growth is hampered by the growing strength of the euro, ECB could potentially take efforts to minimize the appreciation of the euro against the U.S. dollar.
- Concerns over inflation could compel the ECB to lower interest rates and in turn depreciate the value of the euro.
How EverBank can help with your euro needs?
WorldCurrency® CDs (Single-currency CDs): Earn interest rates at local rates in the currency of your choice.
WorldCurrency Index CDs (Multi-currency CDs): Open a single CD comprised of multiple currencies, each designed to focus on a specific regional strength, and/or geopolitical and economic development. This currency is available in the following Index CD(s):
DollarBullSM CDs: Open a single currency CD in reverse—you benefit if the U.S. dollar appreciates against a chosen currency.
WorldCurrency Access Deposit Account: Open a transactional money market account in the currency of your choice.
I'm interested in opening a WorldCurrency® account, what is my next step?
Please note: Not all investments are right for all investors. You should conduct your own research and/or consult with an investment advisor before making any investment.
- Before opening a WorldCurrency account, we recommend reading the following pages:
- If you are ready to open your WorldCurrency account, apply online or call 800.926.4922 for more information.
- For your protection, we require that you sign and mail your application along with a deposit.
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- EverBank, the EverBank Infinity Sphere and the EverBank logo, along with WorldCurrency, Euro Trax and DollarBull are proprietary service marks of EverBank. All rights reserved.
