The official currency of Cyprus is the Euro. The euro weakened slightly towards $1.175 in afternoon trading on Thursday after the ECB's account of September’s policy meeting showed the central bank stands ready to support the Eurozone economy and inflation as a second wave of infections hampers the region's recovery. The measures include slashing interest rates deeper into negative territory and changing the conditions of the TLTROs. Policymakers also said that on the basis of the current information, the PEPP envelope would likely have to be used in full to provide the necessary accommodation to offset the downward impact of the pandemic on the path of inflation.
Historically, the Euro Dollar Exchange Rate - EUR/USD reached an all time high of 1.87 in July of 1973.The euro was only introduced as a currency on the first of January of 1999. However, synthetic historical prices going back much further can be modeled if we consider a weighted average of the previous currencies. Euro Exchange Rate - EUR/USD - Cyprus - data, forecasts, historical chart - was last updated on October of 2020.
The Euro Dollar Exchange Rate - EUR/USD is expected to trade at 1.17 by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate it to trade at 1.16 in 12 months time.