AED
United Arab Emirates Dirham
European Union
EUR
-
Euro
Convertible:
Yes
- Transferable:
Yes
- Exchange rate regime:
Floating
Type of transactions
| FX Spot | FX Forward |
|---|---|
| Delivery date: T; T+1; T+2 | Maximum maturity: 12 months |
| Liquidity: Good | Liquidity: Good |
EUR/USD parity: liquidity schedules (GMT)
Did you know?
Monetary policy
- The European Central Bank (ECB) oversees the monetary policy of the 19 member countries of the European Union that has adapted the single currency. The ECB’s goal is to maintain price stability and to move towards an inflation target of 2%.
- Price setting method: the exchange rate has been floating in the Euro Zone since the creation of the single currency in 1999. The ECB does not have a target exchange rate target in its mandate.
Features and highlights
- The EUR is the second most traded currency in the world, behind the USD but ahead of the JPY. The single currency is used in nearly one third of all foreign exchange transactions in the world.
- In addition to the 19 countries of the Euro Zone, some micro-states (Vatican, Andorra, Kosovo, Montenegro, Monaco) have obtained the right to use the single currency as their official currency.
Regulations
There are no special restrictions on the purchase and sale of EUR.
Expert opinion
The EUR is an extremely liquid currency and considered as one of the main reserve currencies of foreign central banks. Its value against the main world currencies is highly sensitive to political risks, as the internal situation of even the smallest member country of the Euro Zone may have consequences for the confidence of the markets in the single currency.
Payments in EUR
The IBAN format is mandatory. Payment instructions must contain:
- The SWIFT Code of the beneficiary bank
- The full name, address and IBAN of the beneficiary.
| Public holidays 2018 (subject to change) | |||
|---|---|---|---|
| New Year's Day | 1 January | German Unity Day | 3 October |
| Good Friday | 30 March | All Saint’s Day | 1 November |
| Easter Monday | 2 April | Christmas Eve | 24 December |
| Labour Day | 1 May | Christmas Day | 25 December |
| Ascension Day | 10 May | Boxing Day | 26 December |
| The Most Holy Trinity | 31 May | New Year's Eve | 31 December |
Source:
https://europa.eu/