Explained · in 60 seconds
The euro, explained in 60 seconds
What is the euro?
The shared currency of 21 EU countries (Bulgaria joined on 1 January 2026), used by about 350 million people.
Who runs it?
The European Central Bank in Frankfurt. Its Governing Council decides on interest rates about every six weeks – for all euro countries at once.
What moves it against the dollar?
Mainly the interest rate gap between the euro area and the US, the economy on both sides and global demand for dollars.
The latest figure
On October 15, 2026 one euro cost 1.1208 US dollars (ECB reference rate); the ECB deposit rate is 2.50%.
The figures: EUR/USD exchange rate · ECB interest rate · ECB meeting dates
Frequently asked questions
How many countries use the euro?
21 EU member states, since Bulgaria joined on 1 January 2026.
Is a strong euro good?
It makes imports and travel abroad cheaper, but exports from the euro area more expensive – it depends which side you are on.
DESK is a research tool and not investment advice. Figures: official sources, see the linked data pages.
More figures and explainers
US inflation rate · US unemployment rate · Fed funds rate · ECB interest rate · US crude oil inventories · EUR/USD exchange rate · US GDP growth · Germany inflation rate · Euro area inflation rate · 10-year Treasury yield · Gold price · FOMC meeting dates · ECB meeting dates
Inflation, explained · How the Fed sets interest rates, explained · Recession, explained
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DESK is a research tool and not investment advice. Page generated: 2026-10-16.