2024 Author: Howard Calhoun | [email protected]. Last modified: 2023-12-17 10:16
The euro is a currency that, by the standards of history, appeared not so long ago, but already dictates the climate in the global economy on a par with the US dollar, yen and other "giants" of the international currency market.
Prerequisites for Creation
When the first coins appeared in the sixth century BC, the ancient Greek city-states immediately began to enter into alliances so that all the money they issued could be used on the territory of any of these cities.
The most famous attempt to universalize the monetary system was the Hanseatic League, which existed in the thirteenth-sixteenth centuries. It included from 70 to 170 states at different times. In 1379, a monetary union appeared, which provided for the minting of coins of a single sample, which were accepted in the main Hanseatic cities.
In 1865, Italy, France, Switzerland and Belgium created the Latin Monetary Union, which is considered the prototype of the euro system. After the Napoleonic wars, the monetary systems in these countries were practically no different. The weight, material, fineness and denomination were established, the same for all coins of the countries of the Union, and the metric French monetary system was taken as the basis.
History of Appearance
The currency "Euro" appeared relatively recently. In 1999, the first non-cash money came into use, and in 2002, cash coins and banknotes were issued. The name of the banknote is derived from the word "Europe", as it is the generally accepted currency of the European Union.
Appearance
All banknotes have a single standard design. The front side features various photographs of bridges, windows and gates. It symbolizes connection and openness. Euro is a currency of different denominations, which is easily distinguished by color: it can be purple, yellow, green, blue, red, gray.
But the coins are made in a more original way: only the front part is the same, and the pattern on the back depends on the country in which it was made.
Economic characteristics
Today, the euro is the world's currency, which ranks second in terms of government reserves, second only to the US dollar. This is very logical, because the total gross product of the EU countries is greater than that of the United States, which used to be traditionally in first place.
The fact that the euro is the currency that is officially used in all EU countries is, from one point of view, its strong side, and from the other, a weakening factor. It turns out that the value of this monetary unit is based on the level of development of the economies of various countries, but this is also its main disadvantage - after all, the differences in the degree of development of European countries are very significant. It is obvious that France, Germany and Italy are much stronger,than, for example, Greece or Ireland. Therefore, the value of the euro often fluctuates and requires significant support from the stronger and richer EU countries.
Euro in Russia
In the Russian market, European money is most often used as a substitute for the US dollar. The euro currency is exchanged for rubles at the rate of about forty rubles for one euro.
In just 11-12 years, this currency has managed to develop very well and gain worldwide popularity. If the exchange rate rises, then the demand for the euro always rises steadily. There is also a surge in demand for this currency during the holiday season.
As for bank deposits, last year the rate in Eurocurrency ranged from 1.5 to 4.5 percent per annum. You can borrow from a thousand euros with an interest rate of 11-15% per annum.
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