Understanding Euros Rate: A Comprehensive Guide
The euro (EUR) is the official currency of 19 of the 27 member states of the European Union. These countries, known as the eurozone, represent a significant portion of the global economy. As such, the euro’s exchange rate, often referred to as the “Euros Rate,” plays a crucial role in international finance and trade. This article provides a detailed overview of euro foreign exchange reference rates.
The European Central Bank (ECB) publishes daily euro foreign exchange reference rates. These euros rates are determined against a basket of currencies, reflecting the euro’s relative value in the global market. The rates are typically updated around 4 PM Central European Time (CET) each business day, with the exception of TARGET closing days.
The daily concertation procedure, involving central banks across Europe, establishes these benchmark euros rates. This process usually occurs around 2:10 PM CET. It’s crucial to understand that the published euros rates are for informational purposes only. They are not intended for transaction purposes, and using them as such is strongly discouraged.
A table showcasing the euros rate against various currencies on March 14, 2025, illustrates these values:
| Currency | Spot |
|---|---|
| US dollar (USD) | 1.0889 |
| Japanese yen (JPY) | 161.88 |
| Bulgarian lev (BGN) | 1.9558 |
| Czech koruna (CZK) | 25.014 |
| Danish krone (DKK) | 7.4601 |
| Pound sterling (GBP) | 0.84183 |
| Hungarian forint (HUF) | 399.48 |
| Polish zloty (PLN) | 4.1723 |
| Romanian leu (RON) | 4.9768 |
| Swedish krona (SEK) | 11.0538 |
| Swiss franc (CHF) | 0.9641 |
| Icelandic krona (ISK) | 145.90 |
| Norwegian krone (NOK) | 11.6200 |
| Turkish lira (TRY) | 39.9381 |
| Australian dollar (AUD) | 1.7237 |
| Brazilian real (BRL) | 6.2683 |
| Canadian dollar (CAD) | 1.5691 |
| Chinese yuan renminbi (CNY) | 7.8822 |
| Hong Kong dollar (HKD) | 8.4635 |
| Indonesian rupiah (IDR) | 17811.63 |
| Israeli shekel (ILS) | 4.0019 |
| Indian rupee (INR) | 94.6655 |
| South Korean won (KRW) | 1582.87 |
| Mexican peso (MXN) | 21.7571 |
| Malaysian ringgit (MYR) | 4.8418 |
| New Zealand dollar (NZD) | 1.8985 |
| Philippine peso (PHP) | 62.372 |
| Singapore dollar (SGD) | 1.4536 |
| Thai baht (THB) | 36.658 |
| South African rand (ZAR) | 19.7832 |
Due to limitations in accurately reflecting prevailing market conditions in the EUR/RUB market, the ECB has suspended publication of the euro reference rate for the Russian rouble. The last published EUR/RUB reference rate was on March 1, 2022.
The ECB provides historical data and time series for these euros rates, allowing for analysis of currency fluctuations over time. Understanding these euros rates is paramount for businesses, investors, and anyone involved in international transactions involving the euro. The ECB’s data portal offers further resources for comprehensive analysis of euro exchange rates. For those seeking a deeper understanding of exchange rates and their significance, the ECB offers educational resources explaining the role of exchange rates in the broader economy.