Canadian Dollar Encyclopedia- The Value of the Euro and Canadian Dollar in the Global Economy

Our Canadian dollar encyclopedia and Euro encyclopedia resources deal with the complete range

london, United Kingdom (prHWY.com) August 19, 2012 - Our Canadian dollar encyclopedia and Euro encyclopedia resources deal with the complete range of knowledge you would like to acquire on these currencies and also involves Forex news, facts and figures of currencies from around the world, and also offers currency conversion rates with respect to volume of trade happening in the Forex market.
The Euro is the sole currency used by 17 of the 27 countries that are considered to be European that make up what is known as the Euro zone. The exact details of the treaty which created the Euro zone are better detailed in an encyclopedia, but in the last couple decades since its formation and agreement on one currency, the Euro has actually surpassed the US dollar in the amount of money being circulated. Despite this, the Euro is considered to be the second reserve currency for the global economy.
The Euro, abbreviated as EUR, is controlled by the European Central Bank, located in Germany. In 2002 they made an agreement with various national banks throughout Europe to join together in issuing notes for the 17 countries, as well as the numerous African nations that utilize the Euro. The euro can be divided into 100 cents, which are occasionally referred to as Euro cents in order to prevent confusion among the several monetary systems that use cents as a unit. A system involving coins and bank notes are used in the Euro zone. An interesting feature in the designs of the coins is that while one side is the same regardless of where the coins were minted, the other side features whatever image the country that issues the coin chooses the place on there. As stated by Swiss Franc Encyclopedia Although the coins associated with the Euro are indeed unique, the Royal Canadian Mint holds a world record for one of their coins, minted in 2007.
Canada was the first country to ever produce a million dollar coin that was certified by the Guinness Book of World Records to be the largest gold coin ever made, although if recent news articles are accurate Australia has risen up to challenge that claim. Another innovative technology of the Canadian dollar, abbreviated as CAD, is that within the last couple years the bank notes, controlled by the Bank of Canada, have begun to circulate on polymer bills rather than cotton. This is significant because most of the world still issues bank notes as paper money. The Canadian dollar has flip-flopped between having a floating rate and a fixed rate for exchange to other currencies. It is currently valued with a floating rate. Part of the reason for this is the large amount of trade that Canada does with the United States. If the Canadian dollar rises too far above its American counterpart, exporting becomes more expensive, this means that Americans will buy less from Canada due to the higher prices. Both the Euro and Canadian dollar have risen to extreme popularity within the last couple decades, making them important to the stability of the global economy.

Track the movements of the Canadian dollar and Euro in Canadian Dollar Encyclopedia http://currencyconvert.co/currency-profile/canadian-dollar-cad and Euro Encyclopedia http://currencyconvert.co/currency-profile/euro-eur respectively.

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