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The Euro



 
 
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  #11  
Old May 19th, 2010, 06:07 PM posted to rec.travel.europe
James Silverton[_3_]
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Posts: 212
Default The Euro

Maurice wrote on Wed, 19 May 2010 15:47:11 +0000:

Uh, no. On 4 Jan 1999 it took about $1.18 to buy a euro.


We didn't have Euros at that time, it was still "virtual
money" then. Banknotes appeared 1/1/2002 @00:00 in the ATMs.


Bye Maurice


Twelve countries of Europe began to use Euros as national currencies on
1/1/02.

The exchange rates, in USD, on 1/1/99 and 1/1/02 were 1.1812 and 0.9039
and the minimum ocurred on 10/23/00 at 0.8362 with a maximum on 1/14/08
at 1.4865. Actual numbers may differ slightly depending on which sites
you use. These are from Oanda.com.

This is from Answers.com and is correct, I believe. "The euro was
introduced to world financial markets as an accounting currency on 1
January 1999. Physical coins and banknotes entered circulation on 1
January 2002."

--

James Silverton
Potomac, Maryland

Email, with obvious alterations: not.jim.silverton.at.verizon.not

  #12  
Old May 19th, 2010, 07:11 PM posted to rec.travel.europe
EvelynVogtGamble(Divamanque)
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Posts: 2,816
Default The Euro



pltrgyst wrote:
On Tue, 18 May 2010 20:59:07 -0700, Hatunen wrote:

According to Oanda.com today, the Euro was within 4 cents of its
starting value on 1/4/99, relative to the US dollar.
Then you should start using better sources. The Euro started at $0.85
it's still $ 1.22 now.

Uh, no. On 4 Jan 1999 it took about $1.18 to buy a euro.


But the bills and coins didn't appear in circulation for us ordinary
mortals until 1 Jan 2002, at which time the rate was ~ $0.90 for a euro.


Define "ordinary mortal" - When I went to Europe in December, 2000, the
Euro was in use in Austria, Belgium and France.
  #13  
Old May 19th, 2010, 08:18 PM posted to rec.travel.europe
Hatunen
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Posts: 4,483
Default The Euro

On Wed, 19 May 2010 11:19:51 -0400, pltrgyst
wrote:

On Tue, 18 May 2010 20:59:07 -0700, Hatunen wrote:

According to Oanda.com today, the Euro was within 4 cents of its
starting value on 1/4/99, relative to the US dollar.

Then you should start using better sources. The Euro started at $0.85
it's still $ 1.22 now.


Uh, no. On 4 Jan 1999 it took about $1.18 to buy a euro.


But the bills and coins didn't appear in circulation for us ordinary
mortals until 1 Jan 2002, at which time the rate was ~ $0.90 for a euro.

(...and we couldn't get our car out of the garage in Strasbourg because
the payment machines hadn't been converted yet!)


But the claim being addressed here is: "According to Oanda.com
today, the Euro was within 4 cents of its starting value on
1/4/99, relative to the US dollar."

It sank rather precipitously not much after. I remember getting
euros for $0.86 or so.




--
************* DAVE HATUNEN ) *************
* Tucson Arizona, out where the cacti grow *
* My typos & mispellings are intentional copyright traps *
  #14  
Old May 19th, 2010, 09:22 PM posted to rec.travel.europe
Runge121
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Posts: 120
Default Stop the evleth pollution !!



"Earl Evleth" a écrit dans le message de groupe de
discussion : ...
On 19/05/10 14:18, in article , "Tom P"
wrote:

Do they qualify?

Does any country qualify?


Some did at the time. New joiners have had
to toe the mark.

http://www.euractiv.com/en/euro/enla...article-111471

The economic crisis produced a problem with keepy
the existing Euro-states in line.

  #16  
Old May 19th, 2010, 11:02 PM posted to rec.travel.europe
Steve Cain
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Posts: 246
Default The Euro




According to Oanda.com today, the Euro was within 4 cents of its
starting value on 1/4/99, relative to the US dollar.


Then you should start using better sources. The Euro started at $0.85
it's still $ 1.22 now.


Uh, no. On 4 Jan 1999 it took about $1.18 to buy a euro.

That's euro 0.85 to buy a dollar, not too far off today's rate.

See http://www.oanda.com/currency/historical-rates


Read carefully this time: how much USD to buy a Euro

Conversion Table: USD to EUR (Interbank rate)

Time period: 01/04/99 to 01/19/00.
Daily averages:
01/04/1999 0.84720
01/05/1999 0.84770
01/06/1999 0.85190
01/07/1999 0.85730
01/08/1999 0.85860
01/09/1999 0.86410
01/10/1999 0.86450
01/11/1999 0.86440
01/12/1999 0.86960
01/13/1999 0.85560
01/14/1999 0.8580
01/15/1999 0.85760
01/16/1999 0.86540
01/17/1999 0.86450
01/18/1999 0.86260
01/19/1999 0.86190
01/20/1999 0.86420
01/21/1999 0.86390
01/22/1999 0.86180
01/23/1999 0.86360
01/24/1999 0.86360
01/25/1999 0.8630
01/26/1999 0.86430
01/27/1999 0.86840


  #17  
Old May 20th, 2010, 04:16 AM posted to rec.travel.europe
Hatunen
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Posts: 4,483
Default The Euro

On Wed, 19 May 2010 16:02:50 -0600, "Steve Cain"
wrote:




According to Oanda.com today, the Euro was within 4 cents of its
starting value on 1/4/99, relative to the US dollar.

Then you should start using better sources. The Euro started at $0.85
it's still $ 1.22 now.


Uh, no. On 4 Jan 1999 it took about $1.18 to buy a euro.

That's euro 0.85 to buy a dollar, not too far off today's rate.

See http://www.oanda.com/currency/historical-rates


Read carefully this time: how much USD to buy a Euro

Conversion Table: USD to EUR (Interbank rate)

Time period: 01/04/99 to 01/19/00.
Daily averages:
01/04/1999 0.84720
01/05/1999 0.84770
01/06/1999 0.85190
01/07/1999 0.85730
01/08/1999 0.85860
01/09/1999 0.86410
01/10/1999 0.86450
01/11/1999 0.86440
01/12/1999 0.86960
01/13/1999 0.85560
01/14/1999 0.8580
01/15/1999 0.85760
01/16/1999 0.86540
01/17/1999 0.86450
01/18/1999 0.86260
01/19/1999 0.86190
01/20/1999 0.86420
01/21/1999 0.86390
01/22/1999 0.86180
01/23/1999 0.86360
01/24/1999 0.86360
01/25/1999 0.8630
01/26/1999 0.86430
01/27/1999 0.86840


You're reading it backwards. That's the euros to buy a dollar.
Check today's exchange rate for comaprison.


--
************* DAVE HATUNEN ) *************
* Tucson Arizona, out where the cacti grow *
* My typos & mispellings are intentional copyright traps *
  #18  
Old May 20th, 2010, 04:26 AM posted to rec.travel.europe
Hatunen
external usenet poster
 
Posts: 4,483
Default The Euro

On Thu, 20 May 2010 00:31:51 +0200, Wolfgang Schwanke
wrote:

"James Silverton" wrote
in :


The Euro did not really start in 1999 either. Its forerunner ECU, also
a virtual currency, was convertible 1:1 to the Euro and started in
1979. Since the formula for deriving the ECU/Euro exchange rates from
its member countries is known, it's possible to determine "virtual"
Euro exchange rates back to the 1950s. There are some graphs and
statistics on the net who do that.


I don't think you can call the ECU an early form of the euro. And
the euro was deliberately made equivalent to the ECU, for
bookkeeping convenience, I assume.

The ECU is still listed by Oanda.

Whether the euro was an actual currency in January 1999 is a
matter of semantics. I would think.

Weren't samples of the euro coins issued before 2002 for
educational purposes?

--
************* DAVE HATUNEN ) *************
* Tucson Arizona, out where the cacti grow *
* My typos & mispellings are intentional copyright traps *
  #19  
Old May 20th, 2010, 03:30 PM posted to rec.travel.europe
Steve Cain
external usenet poster
 
Posts: 246
Default The Euro


You're reading it backwards. That's the euros to buy a dollar.
Check today's exchange rate for comaprison.

Indeed, my error. I made assumptions based on the value of the euro when we
began our travels in Europe circa 2001

Travel was more "rewarding" then! s

Conversion Table: USD to EUR (Interbank rate)

Time period: 05/14/01 to 12/20/01.
Daily averages:
05/14/2001 1.14140
05/15/2001 1.14380
05/16/2001 1.1390
05/17/2001 1.13270
05/18/2001 1.13320
05/19/2001 1.13660
05/20/2001 1.13510
05/21/2001 1.13510
05/22/2001 1.14020
05/23/2001 1.15630



  #20  
Old May 20th, 2010, 10:11 PM posted to rec.travel.europe
F.M. Arouet
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Posts: 3
Default The Euro

Mike wrote:
On Tue, 18 May 2010 20:59:07 -0700, Hatunen wrote:

That's euro 0.85 to buy a dollar, not too far off today's rate.


heres a free insight, UK will not join Euro anytime soon :-)


The Pound will collapse one day before the Euro I guess.... :-P

But the strong British industry will help You out of troubles and
chaos.... :-D :-D :-D


--
"Es gibt keinen Weg, den finalen Kollaps eines Booms durch
Kreditexpansion zu vermeiden. Die Frage ist nur, ob die Krise früher
durch freiwillige Aufgabe der Kreditexpansion oder später zusammen mit
einer finalen und totalen Katastrophe des Währungssystems kommen soll“
- Ludwig von Mises.
"Banking Establishments Are More Dangerous Than Standing Armies."
- Thomas Jefferson
"While the crash only took place six months ago, I am convinced we have
now passed through the worst -- and with continued unity of effort we
shall rapidly recover. There has been no significant bank or industrial
failure. That danger, too, is safely behind us."
- President Hoover 1930
 




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