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The calculators use definitive exchange rates of the euro against the 12 national currencies of Euroland.<br /> All official conversion rules between currencies of the Euroland are applied :<br /> Amounts in euro are rounded to 2 digits (22.224 => 22.22, 22.226 => 22.23, 22.225 => 22.23). <br /> To convert an amount from a local currency to another one (ie from German Mark to French Franc), the internal intermediate amount in euros is computed with 3 digits. Amount in currencies are displayed with the right precision (0 or 2 digits).<br /> Conversions from an "out" currency to an "in" currency are made with an intermediate amount in euro to 2 digits.<br /> Conversions from an "out" currency to another "out" currency are made with an intermediate amount in euro with maximal precision.<br /> Amounts can be entered with a comma or dot to separate the decimal part.<br /> <p /> For Gold, Silver, platinum and Palladium, rates and amounts are expressed in grams (<a href="http://smart-unit-converter.com/weight-converter.php?UNIT=oz&VALUE=1">1 ounce=31.103 g</a>). <p /> This converter complies with the European Union Council Regulation 97/1103 <p /> <a name="theo"></a> <h4><i>Historical rates of the euro before 1999 and historical rates of XEU before 1979</i></h4> <tr><td align="left"> Before 31/12/1998 the Euro Exchange rates are theoretical ones, use the XEU code to see ECU exchange rates (<br /> with <a href="/en/historical-currency-converter.php" target="_top">historical currency converter</a> or <a href="/en/historical-exchange-rates.php?MA=1" target="_top">historical rates</a> page) <p /> These theoretical rates, were computed from weight of each currency in XEU basket. As Great Britain Pound and Greek Drachma were part of the XEU basket but not member of the euro in 1999, there is a little difference between XEU and EUR (up to 2.5 % difference between 1990 and 31/12/1998). <br /> Before 13/03/1979 XEU rates are theoretical ones (computed from DEM, BEF/LUF, DKK, FRF, GBP, IEP, ITL and NLG rates against USD, using weights in ECU basket when it was issued on 13/03/1979). <br /> If you are looking for a currency that you can't find, try <a href="/en/historical-currency-converter.php" target="_top">historical currency converter</a>, there are more currencies available. <br /> Some Wikipedia pages explain how we did to compute theoretical historical rates of the euro and XEU : <a rel="nofollow" href="http://en.wikipedia.org/wiki/Talk:European_Currency_Unit#Table">in English</a>, <a rel="nofollow" href="http://fr.wikipedia.org/wiki/Euro/dollar#Historique_avant_1999">in French</a>, <p /> <a name="coursref"></a><h4><i>Reference rate</i></h4> Daily reference rate comes from central banks. It is defined from Monday to Friday, except days off. <br /> Minimum, Average, Maximum, First and Last rates comes from other real time sources. <p /> <a name="source"></a> <h4><i>Historical exchange rates source</i></h4> Exchange rates are refreshed <strong>daily</strong> (from monday to friday) and are the official ones published by the European Central Bank. <p /> Some minor exchange rates come from other sources (like African Development Bank, Central Bank of Brazil or other central banks). <p /> Historic rates are official ones, we use European Central Bank exchange rates since May 2000. <br /> Before May 2000, we retrieved exchange rates from Dutch central bank, Deutsche Bundesbank, Bank of England, US federal reserve, World Bank, Bank of Japan. <p /> On 1st January 1960, a "new french franc (FRF)" was issued to replace "100 old french franc (FRA)". To avoid useless jump in our historical charts related to French Franc, we introduced code FRA to represent old French Franc. FRA is not a standard ISO code. <p /> <a name="average"></a> <h4><i>Averages and historical volatility</i></h4> To compute averages in <a href="historical-exchange-rates.php?MA=1">Historical exchange rates</a> or <a href="historical-exchange-rates-graph-zoom.php">Graph zoom</a>, we don't take into account exchange rates on saturdays, sundays and days off the TARGET calendar (european bank holiday which includes 6 days off per year : 1st of january, easter friday, easter monday, 1st of may, christmas day (25th of december) and boxing day (26th of december) <p /> Historic volatility is standard deviation of the logarithm of changes of exchange rates mutliplied by square root of number of quotes per year (254.66 open days per year). <br /><a href="/dev/volatility_histo_coursUSD.xls" target="_new">Sample calculation of historic volatility with Excel spreadsheet</a> </article>  <aside> <script async src="//pagead2.googlesyndication.com/pagead/js/adsbygoogle.js"></script>  <ins 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