This year (2006) is coming to an end. If we look back we are surprised to see that how quickly the days passed. New Year is nearing. Everybody is happy with their memories down the line. Every country welcomes this year, everybody will celebrate. But for Europeans this New Year is bringing some extra happiness. On this New Year they are going to celebrate the fifth anniversary of the launch of Euro notes and coins and they are also welcoming Slovenia, the tiny former Yugoslav republic as thirteenth member of their Euro zone.
This year in December, the European currency came of age by leaving behind the U.S dollar in terms of notes in circulation.
The Euro notes are in rapid growth as of present. What has driven such a rapid growth in Euro notes? Nobody has a clear answer for this question. After the 2002 launch, the rate of increase slowed, but remained above 10%. But slowly the rate started increasing in mid of 2003, and later picked up its speed and now as the U.S dollar is on off-side position, the Euro came to a leading position.
This year in December, the European currency came of age by leaving behind the U.S dollar in terms of notes in circulation.
The Euro notes are in rapid growth as of present. What has driven such a rapid growth in Euro notes? Nobody has a clear answer for this question. After the 2002 launch, the rate of increase slowed, but remained above 10%. But slowly the rate started increasing in mid of 2003, and later picked up its speed and now as the U.S dollar is on off-side position, the Euro came to a leading position.
There is lot of demand for Euro notes in overseas. Tourists traveling outside the Euro zone are taking Euro notes with them and not bringing back so many with them. The Euro notes are gaining acceptance in large.
So Lets wish the Europeans Happy Celebrations!!!!!
No comments:
Post a Comment