The official currency of Estonia is the Euro. The euro edged lower to trade around the $1.21 level, not far from an over week high hit on Wednesday. Investors continue to monitor the implications of restrictions on activity and consumption, and the pace of vaccinations against Covid-19. Meanwhile, the European Commission lowered on Thursday its GDP forecasts for 2021, saying it now expects the Eurozone to grow 3.8% this year and the same in 2022, from its unprecedented recession in 2020. Early November estimates had shown projections of a 4.2% expansion in 2021 and a 3% growth in 2022.
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 - Estonia - data, forecasts, historical chart - was last updated on February of 2021.
The Euro Dollar Exchange Rate - EUR/USD is expected to trade at 1.21 by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate it to trade at 1.20 in 12 months time.