What is the European term?
The European term is a convention on foreign exchange quotes where the offer is listed in terms of how many European currency units are needed to buy a foreign currency, most often US dollars (USD). This convention can be used in various environments by traders working in foreign currency and in the changes in the changes in money. As an example, someone could quote $ 1.385/USD, which means that EUR 1.385 is required to buy $ 1. People can consider it useful for references in different environments; For example, if a transaction is made in a foreign currency, it offers an offer in the European period to transfer to people immediately to understand how much domestic currency will be required to complete the transaction. People can also reverse the European deadline and create an offer in dollars, for example for a quote such as $ 0.732/EUR, providing informatio how much dollars you need to buy euro.
people who participate in currency trading must keep upWith the rapid development of the exchange rate and may prefer the conditions used in quotation marks. People can make both the offer and to ask for quotes in the European term, to tell other merchants how much they are willing to accept for their currency and how much they are willing to pay for the currency. These quotations are affected by a exchange rate and also result in moving the exchange rate up and down because people respond to the pressure of supply and demand.
It is very clear when the quote is a European term, because first the European currency and the amount will be given, followed by the value of a foreign currency. The euro is the most commonly traded and used European currency due to its adoption of many EU Member States, and people can also trade in other European currencies if desired.Euro is only the US dollar in second place in terms of volume and frequency of trading and it is very widely used, known and accepted currency.
For travelers who change money, it is important to follow exchange courses and dowryAt attention to citations. People should be aware that, along with losses associated with changing the currency and forth, they will usually have to pay for money change fees. The fees should be published in advance before the transaction occurs and may vary considerably, so comparing shopping is appropriate if people have several sources to change money.