EUR / USD | Interbank / OTC: EURUSD | Currency: USD | Type: Currency Pair
Key Statistics
About EUR / USD
EUR/USD is the most traded currency pair in the world, representing the exchange rate between the eurozone and the United States — the two largest developed economies. Its direction is dominated by the interest-rate gap between the ECB and the Federal Reserve, along with relative growth and inflation surprises. Because of its enormous liquidity, EUR/USD often sets the tone for the entire G10 currency complex.
Instrument Details
| Ticker | EURUSD |
| Exchange / Market | Interbank / OTC |
| Instrument type | Currency Pair |
| Quote currency | USD |
Pair Components
| Base currency | EUR — Euro |
| Quote currency | USD — US Dollar |
| Quote convention | 1 EUR = X USD |
Market Structure
The EUR / USD rate is set by the global foreign-exchange market — a decentralised network of banks, dealers and electronic platforms — rather than a single exchange. Central-bank policy, interest-rate differentials, trade balances and capital flows drive the rate over time. Exchange-traded currency futures and options based on this pair also trade on regulated exchanges.
Trading Hours
EUR / USD trades nearly 24 hours a day, five days a week, across global interbank sessions from Sydney open (~02:30 AM IST Monday) to New York close (~02:30 AM IST Saturday). Outside those hours this page shows the last traded level, with change figures measured against the previous official close. All session times are expressed in Indian Standard Time (IST).
How to Read EUR / USD
A rising EUR / USD quote means the base currency is strengthening against the quote currency. Compare the live rate with the 52-week range to judge how stretched the move is, and watch round-number levels where central banks and corporates often place orders. Interest-rate announcements from either economy are the biggest scheduled movers.
52-week range: 1.133 – 1.202. Trailing 12-month change: -0.61%.
By Liveworldmarket Editorial Team · Last reviewed 31 August 2026
EUR / USD — The World's Most-Traded Currency Pair
EUR/USD (euro versus US dollar) is by a substantial margin the most-traded currency pair in the global foreign-exchange market, accounting for roughly 22-23% of total daily FX turnover. The euro represents the second-largest reserve currency after the USD, and any major shift in the EUR/USD rate ripples through bond markets, equity allocations, commodity prices (oil and gold are USD-priced) and emerging-market currencies.
EUR/USD is sometimes called 'fiber' (FX-trader slang of obscure origin) or 'eurodollar' (not to be confused with the unrelated 'eurodollar' interest-rate futures contract, which references offshore-USD deposits). The pair is quoted to 4-5 decimal places in OTC FX markets; a 1-pip move is 0.0001 (e.g. 1.0850 to 1.0851).
History & contract origins
The euro was launched as an accounting currency on 1 January 1999 (11 founding Eurozone members) and as physical notes and coins on 1 January 2002. The pair started at 1.1747 EUR/USD on launch day and immediately weakened — falling to a low of 0.8230 in October 2000 (so a euro briefly bought less than a dollar). The 2002-2008 bull run took EUR/USD to the all-time high of 1.6038 in July 2008, just before the global financial crisis. Since then the pair has trended structurally lower as the US economy and tech sector have outperformed the Eurozone.
Major modern EUR/USD episodes: 2010-12 Eurozone sovereign-debt crisis (pair fell from 1.50 to 1.20), 2014-15 ECB QE divergence (1.40 to 1.05), 2022 Russia-Ukraine war + ECB lagging Fed (1.13 to 0.95 parity break), 2024 ECB-Fed convergence (1.05 to 1.12). Through 2025-26 the pair has traded in a 1.05-1.12 range reflecting central-bank policy normalisation.
Trading hours & session layout
EUR/USD trades 24 hours, Sunday evening through Friday afternoon, on global OTC FX networks. Liquidity peaks during the European-London-US overlap. In IST:
| Tokyo session | 05:30 - 14:30 IST (lower liquidity) |
| London session | 12:30 - 21:30 IST (highest liquidity) |
| New York session | 17:30 - 02:30 IST |
| EUR-NYC overlap (peak liquidity) | 17:30 - 21:30 IST |
| Friday close | Sat 03:30 IST |
| Sunday open | Sun 03:30 IST |
Holiday calendar (typical annual closures)
Listed below are the major scheduled closures for the underlying exchange. Exact dates shift year-to-year — always verify against the exchange's official calendar before holding overnight positions across a holiday boundary.
| Holiday | Typical date |
|---|---|
| FX market never formally closes except weekends | |
| Reduced liquidity during major US/Eurozone bank holidays | Christmas, New Year, Easter Monday, Independence Day |
How to read this tape
Read EUR/USD alongside three signals. First, the policy-rate differential between the ECB and the Fed — when the ECB is more dovish (lower rates than the Fed), EUR/USD typically weakens; when ECB rates rise faster, EUR/USD strengthens. Second, the German Bund vs. US Treasury yield spread — a narrowing spread usually supports the euro. Third, the European TARGET2 settlement-system balances — these reflect intra-Eurozone capital flows and can presage broader stress events.
EUR/USD is one of the lowest-volatility major FX pairs (annualised vol typically 7-10%), reflecting the broad-base depth of both currencies. Short-term moves are mostly driven by US data prints (NFP, CPI, FOMC) and ECB meetings (every 6 weeks).
Frequently asked questions
Why is EUR/USD so liquid?
Because the USD and EUR together represent the two largest reserve currencies and account for the vast majority of international trade invoicing. Any global asset reallocation between USD assets and EUR assets goes through EUR/USD.
What is a 'pip' in EUR/USD?
A pip = 0.0001 — the smallest standard price change for the pair. The 5th decimal place ('pipette' or fractional pip) is used by some brokers for tighter pricing.
Does EUR/USD affect Indian markets?
Indirectly. When the USD strengthens broadly (EUR/USD falls), the rupee typically follows the broader USD strength. Indian IT exporters benefit from USD strength. Indian importers (especially crude oil) face higher costs.
Is EUR/USD a leading indicator?
For Eurozone vs. US growth differentials, yes. For broader global risk-on/risk-off, less so — that's the dollar index (DXY) which is dominated by EUR/USD anyway (57.6% weight).
Can Indian residents trade EUR/USD?
Yes, via the LRS route through any international broker offering FX. SEBI does not list EUR/USD on NSE or BSE; only USD/INR and select INR cross-pairs are listed onshore.
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Editorial article. Information only — not investment advice. Read our Risk Disclaimer before acting on any market data shown here.