The Euro Money Rate is a critical benchmark, particularly within the European Union, and serves various essential functions. This article delves into the official euro exchange rates published by the European Commission, providing clarity on their purpose, sources, and accessibility.
The European Commission provides a static currency converter that reflects the official monthly accounting rate for the euro. These rates, established by the Accounting Officer of the European Commission as per Article 19 of the Financial Regulation, are not arbitrary figures. They are meticulously derived to serve a specific purpose: calculating reimbursements for expenses, travel, and subsistence costs for external individuals participating in EU Commission meetings and related activities.
These rates are not just for internal EU use. The converter is publicly available, allowing general users to access monthly currency conversion rates dating back to 1994. This historical data is invaluable for anyone tracking currency trends or needing past exchange rates involving the euro.
The source of these official rates is the reputable European Central Bank (ECB). The rates quoted are the market rates from the second to last day of the preceding month, ensuring they are up-to-date and reflective of market conditions. In cases where ECB data isn’t available, the European Commission delegations or other reliable sources provide the necessary information, maintaining the accuracy and reliability of the euro money rate.
InforEuro, the platform providing this converter, extends its utility beyond just current EU currencies. It includes rates for both current and historical currencies, encompassing countries both within and outside the European Union. For each currency, users can find historical conversion rates against the euro, or against the ecu for periods before December 1998. This comprehensive historical data is readily accessible in downloadable electronic files, starting from March 1994.
It is crucial to understand the informative nature of the euro money rate provided by the European Commission. The information is strictly for informative purposes, specifically for the implementation of the EU budget. While every effort is made to ensure accuracy, the European Commission explicitly states that no warranty of accuracy is given, and they assume no responsibility regarding the published rates. This publication does not grant users any rights, and inquiries from the general public are generally not addressed.
For those seeking further clarification or specific details, the European Commission provides a contact email for inquiries related to treasury matters.
For more extensive information about the euro itself, users are directed to the Europa.eu website, a comprehensive resource for all matters related to the European Union and its single currency.
In conclusion, the euro money rate published by the European Commission is a valuable resource for understanding official exchange rates, particularly in the context of the EU budget and historical currency conversions. While primarily intended for EU internal use, its public accessibility makes it a useful tool for anyone needing reliable euro exchange rate information.
