European Union

EUR - Euro
Convertible: Yes - Transferable: Yes - Exchange rate regime: Floating
European Union

Types of transaction

FX Spot FX Forward
Delivery date: T; T+1; T+2 Maximum maturity: 24 months
Liquidity: Good Liquidity: Good

EUR/USD parity: liquidity schedules (GMT)

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. 


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