SGD to Euro Exchange Rate
Ahh, Europe: home to the Mona Lisa, the David, the Guggenheim museum Bilbao, and the top European tourist attraction: Disneyland Paris.
What influences the AUD/EUR exchange rate?
As of 2016, sovereign debt risk in some EU member countries may be an important factor for the EUR/AUD exchange rate.2 Interest rate differentials may also play a role in determining the market rate between the two. As the largest economy in the eurozone, Germany’s economic data may also influence euro valuations.
Because the Australian dollar is often considered a commodity currency, demand for major exports like iron ore may influence the AUD’s strength relative to the euro. Similarly, because Asia is a primary trade partner for Australia, slowing in major Asian economies may affect the EUR/AUD exchange rate.
Operating as a single market with 28 member states, the EU is the world’s largest trading bloc and the world’s largest economy. The EU is the world’s largest trader of services and manufactured goods, and the largest source of outbound foreign investment. The EU’s combined GDP in 2015 was USD 16.2 trillion and it includes four of the world’s 10 largest economies (Germany, the UK, France and Italy)
---Australian Government, Department of Foreign Affairs and Trade.
- In terms of population size, Europe’s population is a whopping 25 times bigger than Australia’s while in terms of area Australia is only 25% smaller than Europe. Australia’s nominal GDP ranks 13th on a global scale--just behind Spain. According to ABC’s The Conversation, “The EU (as a whole) has been Australia’s largest economic partner for more than 25 years. It remains Australia’s third-largest merchandise trading partner, its second-largest source of imports (17% of total Australian imports) and fifth-largest market for exports.”
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Currency Name: Euro
Currency Code: EUR
Currency Symbol: €
Central Bank: European Central Bank
Countries Used In: Austria, Belgium, Cyprus, Estonia, Finland, France, Germany, Greece, Ireland, Italy, Latvia, Lithuania, Luxembourg, Malta, the Netherlands, Portugal, Slovakia, Slovenia, and Spain.
Major Unit: One euro
Minor Unit: One cent.
Note Denominations: €5, €10, €20, €50, €100, €200, €500
Coin Denominations: 1c, 2c, 5c, 10c, 20c, 50c, €1, €2.
EUR to AUD exchange rate analysis. Check out our daily market analysis to learn the factors influencing the EUR to AUD exchange rate today.