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 8/29/2010. 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
- Trade surplus up. The Eurozone trade surplus in March was the biggest since last October.
- German manufacturing grew at a record pace in April.
- Lower euro price could spur growth in European corporations.
Risk factors to consider
- As of May, the euro is down almost 14% against the U.S. dollar since the beginning of 2010.
- Worries about Greece's ability to repay its debt have spread to Spain, Portugal, Ireland and Italy.
- Unemployment in the 16 nation Eurozone stood at 10% in May, the highest level since 8/98.
How can EverBank help with your euro needs?
WorldCurrency CDs (Single-currency CDs): Earn interest rates at local rates in the currency of your choice.
WorldCurrency Basket 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 Basket CD(s):
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.
