Understanding Euro Exchange Rates is crucial for businesses, travelers, and anyone involved in international finance. These rates, updated daily by central banks across Europe, provide a benchmark against which the euro’s value is measured against other global currencies. It’s important to note that these are reference rates, intended for informational purposes and not recommended for transactional use.
What are Euro Reference Rates?
Euro foreign exchange reference rates are published by the European Central Bank (ECB) and reflect the daily concertation procedure among European central banks, typically occurring around 14:10 CET. These rates are usually updated at approximately 16:00 CET every working day, except on TARGET closing days. This ensures timely access to the latest exchange rate information for users worldwide.
The primary purpose of these reference rates is to serve as a public good, offering transparency and a consistent benchmark for the euro’s value. While they are meticulously calculated, it is strongly advised against using these rates for transaction purposes. Actual transaction rates offered by banks and financial institutions will include margins and may vary from these reference points.
Euro Exchange Rates on February 28, 2025
Below are the euro foreign exchange reference rates as of February 28, 2025. All rates are quoted against the euro as the base currency. This table provides a snapshot of the euro’s value in relation to a diverse range of international currencies.
Important Notice Regarding EUR/RUB Exchange Rate
Due to the ongoing market conditions affecting EUR/RUB trading, the European Central Bank has suspended the publication of the euro reference rate for the Russian rouble. This suspension is in effect until further notice as the ECB is unable to determine a representative reference rate under the current circumstances. The last published EUR/RUB reference rate was on March 1, 2022.
Accessing Historical Data
For those needing historical data, the ECB Data portal offers extensive time series for bilateral exchange rates. This resource allows users to track trends and analyze past euro exchange rate movements in detail. You can explore this data further at the ECB Data portal.
Understanding euro exchange rates is essential in today’s globalized economy. While the daily reference rates provide a valuable overview, always consult financial professionals for transaction-specific exchange rates.
