The official currency of Spain is the Euro. The euro traded around $1.203, moving closer to Tuesday's near one-month low of $1.20, as investors continue to monitor the slow pace of COVID-19 vaccination in the EU and its impact on Europe's economic recovery. On the economic data front, retail sales in the Eurozone tumbled by 5.9% in January, the most since April's record slump and compared with market forecasts of a 1.1% decline; while a PMI survey showed the Eurozone's construction sector contracted sharply in February for a 12th consecutive month. Elsewhere, remarks from a number of European Central Bank policymakers this week suggested the bloc's monetary authority stands ready to provide more stimulus if needed to keep yields down and support the economy.
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 - Spain - data, forecasts, historical chart - was last updated on March of 2021.
The Euro Dollar Exchange Rate - EUR/USD is expected to trade at 1.20 by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate it to trade at 1.19 in 12 months time.