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Euro Still Doing Okay

If you were to check out the figures for the Forex Euro exchange rate these days, what would you find? The euro, as a currency, is still quite strong in relative terms, it will get you a bit more for the exchange for dollars, but still doesn?t compare with the British pound. For example, on the forex euro exchange, one euro will get you .68 British pounds sterling. Conversely, one pound will get you one euro and forty-seven euro cents. With the strength of the pound compared to the dollar (one pound equals $1.85) and to the euro, some conclusions can be drawn.

Is it any wonder that the British aren?t all that enthusiastic about signing onto the single European currency? With the forex euro rate being what it is, not especially. The strength of the UK pound compared to other currencies is hardly an anomaly, but the result of years of stability and a banking tradition stretching back centuries. Britain may not have its Empire anymore, but its currency is still as regal as the institution of the Royal Family itself. Compared to the U.S. economy, and the dollar over the years, Britain might seem small fry-ish.

As has been the case for some time, though, pounds will get you a healthy amount of dollars in exchange, much more than the forex euro exchange rate can, one euro will now get you $1.26, or 59 cents less than a single pound sterling will exchange for. Of course, if your salary in the UK isn?t commensurate with prices in the US or Europe, the exchange rate might only make the slightest of differences. The euro has a way to go if it wants to truly be a lasting challenge to the dollar, or the pound, but it shouldn?t be counted out yet.