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#11
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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
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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
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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
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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
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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
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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
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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
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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
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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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