The official currency of Italy is the Euro. The euro traded around $1.168 on Friday, remaining close to the previous session's four-week low and heading for a 0.3% monthly loss. The common currency has been under pressure due to concerns about the negative impact of new restrictive measures on the region's recovery. Upbeat GDP data from Eurozone's largest economies helped to curb the losses. Meanwhile, ECB President Christine Lagarde said on Thursday that rising COVID-19 cases and new lockdowns have led to a "clear deterioration" in the bloc's near-term outlook, and that the fourth quarter GDP is almost certain to be weak, with a "very negative" November. Lagarde also noted that risks are "clearly" tilted to the downside, raising expectations that the ECB will deliver more stimulus when it meets in December.
Historically, the Euro Dollar Exchange Rate - EUR/USD reached an all time high of 1.87 in July of 1973.The euro was only introduced as a currency on the first of January of 1999. However, synthetic historical prices going back much further can be modeled if we consider a weighted average of the previous currencies. Euro Exchange Rate - EUR/USD - Italy - data, forecasts, historical chart - was last updated on October of 2020.
The Euro Dollar Exchange Rate - EUR/USD is expected to trade at 1.16 by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate it to trade at 1.15 in 12 months time.