BU3410 Research3_JM - the Euro rather than the Dollar when...

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Jonathon Myhre 10/5/14 Exchange Rate Movement BU3410 Week 3 Research Currently at the moment, the European Union’s Euro is better than the United States Dollar. The conversion at the start of 2014 was right at $1 US Dollar equals $1.38 EU Euro, now being closer to $1.25 in October of 2014 ( Amadeo, K. “2014, September 4” ). Since the conception of the Euro it has slowly gathered and risen to above the US Dollar, although the US Dollar has been around a lot longer than the Euro. I do believe that as long as the US Economy stays decent and continues to do what it does, I have no faith that the other countries will continue to use the US Dollar, as well as storing the US Dollar in their deposits. Now I do believe that at some point the Euro will over take the US Dollar in becoming the most widely used currency, especially for trade and business. Currently there are 24 countries using the Euro as their currency ( Rosenburg, M. “2014” ), with several more countries within the next couple years converting to the Euro. It only makes sense from a business point of view. I would rather have
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Unformatted text preview: the Euro rather than the Dollar when doin business being that the Euro is a higher rate. Although most countries won’t have access to large funds of the Euro so it will take time for countries to switch over and such, thus allowing the Euro to gain more attention slowly. In large part this won’t get rid of the US Dollar because we will still continue to use it and we will still use it as a currency when doing business internationaly but the Euro will one day become the favored object of dealings. Jonathon Myhre 10/5/14 Exchange Rate Movement BU3410 Week 3 Research Reference: Rosenburg, M. (2014). 24 Countries Use the Euro as their Official Currency. In About Education . Retrieved October 5, 2014, from http://geography.about.com/od/lists/a/euro.htm Amadeo, K. (2014, September 4). Euro to US Dollar Conversion. In About News US Economy . Retrieved October 5, 2014, from http://useconomy.about.com/od/inflation/p/Euro-To-Dollar-Conversion.htm...
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