The official currency of Portugal is the Euro. The euro held steady at $1.20 during the first week of May, down from the previous week's two-month high of $1.215, as investors awaited a raft of economic data this week including Germany and France foreign trade and industrial output numbers, and the US jobs report. The Eurozone PMI survey showed the bloc's private sector activity grew at a faster pace in April, as the service activity returned to growth; while data released on Monday showed Germany's retail sales rose in March by the most since May 2020. Last week, GDP figures showed the Eurozone entered a double-dip recession in the first quarter, while consumer prices rose in April by the most for two years. The euro booked in April a 2.5% monthly gain against the greenback, supported by optimism about a strong economic recovery and signs of an acceleration in the vaccination pace in Europe.
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 - Portugal - data, forecasts, historical chart - was last updated on May 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 1.18 in 12 months time.