6th post for the economy of France

Moving right along to my fifth blog on the economy of France. Since this week we discussed different things about money, I think it would be interesting to discuss the currency in France.

At one time France's currency was once called Franc but in 1999 they changed it to the more commonly known Euro. Along with a few other countries they did this to have a more common and well-known currency throughout Europe. In the beginning the value of the Euro was a little higher than the US dollar but after a couple years, in 2001, the Euro just was not as valuable, so it lowered. The lower the value of the Euro is, the more inexpensive products are in those areas. To keep this going, The European Central Bank, the United States Federal Reserve, and the Bank of Japan worked on lowering the value of the Euro as much as possible.

Although Great Britain did not give into changing their currency to the common Euro, twelve countries did. These countries include Germany, Spain, Finland, Luxembourg, Ireland, Holland, Belgium, Austria, Italy, Greece, Portugal and of course, France. Back when the Euro was launched, the transformation has left the country going through floating exchange rates where basically the rates are always fluctuating and were not always fixed. In 2001 though, they went to make Euro the official currency which will make the flow of everything work alot more smoothly.

I got this information from nationsencyclopedia.com and I came across a chart from forecasts.org that shows the US dollar to Euro Currency exchange rate! Sorry the chart is a little cut off. I didn't know how to make it all show !