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 11/1/2009. 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
- In an effort to revitalize the struggling economy, the European Central Bank slashed interest rates in May 2009 to just 1.0 percent and plans to buy up to 60 billion euros of covered bonds.
- As of August 2009, the new export orders index for the manufacturing sector rose to 48.2 from 43.7 reported in June 2009. This is the highest-level increase since June 2008.
Risk factors to consider
- The euro zone economy contracted 2.5 percent in the first quarter of 2009.
- Concerns over inflation could compel the ECB to lower interest rates and in turn depreciate the value of the euro.
- Unemployment in the euro zone reached a 10-year high of 9.5 percent in May 2009.
- July 2009 marks the 14th month that Purchasing Managers Index (PMI) has been below the 50.0 mark that divides growth from contraction.
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 Index 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 Index 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.
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- EverBank, the EverBank Infinity Sphere and the EverBank logo, along with WorldCurrency and Euro Trax are proprietary service marks of EverBank. All rights reserved.
