The official currency of Cyprus is the Euro. The euro was little-changed at $1.198 on Friday, not far from yesterday's one-month high of $1.199, as investors await the outcomes of both the Eurogroup and the Eurozone finance ministers meetings. Meanwhile, economic data confirmed that consumer prices in the Euro Area rose in March by the most in over a year, while the core index eased to a three-month low. Earlier this week, ECB Vice President Luis de Guindos told the European Parliament's committee on monetary affairs that the central bank will act on any "detrimental" rise in borrowing costs until the coronavirus pandemic is over. The policymaker also said that broad economic activity should pick up strongly in the second half of this year thanks to vaccinations, the easing of confinement measures and monetary and fiscal policy support in the Euro Area. Still, he also warned that the recovery is expected to be fragile.
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 April of 2021.
The Euro Dollar Exchange Rate - EUR/USD is expected to trade at 1.19 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.