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Interestingly the Google exchange rate chart has historical rates for EUR/USD going back to 1982. Wonder where those numbers are coming from...
by formerly_proven 4y ago
Interestingly the Google exchange rate chart has historical rates for EUR/USD going back to 1982. Wonder where those numbers are coming from...
- deleted 4y ago[deleted]
- pridkett 4y agoThe Euro had two predecessors (kinda) - the European Unit of Account and the European Currency Unit. They weren’t day to day currencies, but they were used for things like cross-border bonds. The EUA was originally defined to be one dollar worth of gold back in the gold standard days. Each transition saw a 1:1 conversion with fluctuation - usually to benefit the EUA/ECU/Euro - along the way.
- littlestymaar 4y agoECU[1] I'd guess [1]: https://en.wikipedia.org/wiki/European_Currency_Unit https://en.wikipedia.org/wiki/European_Currency_Unit
- madcaptenor 4y agoAnd it turns out that the reason a Euro is roughly a dollar is because it's the successor to the ECU, which was the successor to something called the European Unit of Account, which was originally defined to be a dollar's worth of gold. (I figured this out when I went down a Wikipedia rabbit hole last month: https://gottwurfelt.com/2022/07/16/why-is-a-euro-close-to-a-dollar/ https://gottwurfelt.com/2022/07/16/why-is-a-euro-close-to-a-...
- dismantlethesun 4y agoI think they mixed up the 90s and the 80s, since the Euro should date back to the agreement signed in 1992.