Quote:
Originally posted by Chewbaccus
If memory serves, the Euro still varies in value from country to country, correct? For example, 6 French euros are equivalent to one American dollar, but one American dollar is also equivalent to (at last check) 1000+ Italian euros.
|
You are confusing Euro with the Mark, Lira, Franc, etc. They are different currencies. The Dollar today buys 1.11 Euros; up from last years 1.08 Euros (Euro has lost value by 2.8%). The Dollar buys 2.18 German Marks; up from 2.12 - about the same or 2.8% difference. Italian Lira at 2158 dropped 2.9%.
All European currencies that will be traded for Euros were expected to remain consistent within certain parameters to qualify for the transistion. Most are in the 2.7 to 3.0% range vs the DollarUS. However the Netherlands Guilder has only dropped 1.2% being as Netherlands and its more tolerant attitudes have resulted in a Europe most prosperous economy. European currencies that are not converting such as the Danish (whatever it was) have dropped by over 3% compared to the DollarUS; the Sterling Pound dropped 9.5%.
IOW the Euro and other European currencies are completely independent. What is changing is some currencies such as the Greek Dracma - I believe the world's oldest currency - will no longer exist after the transistion.