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For the first time since 2013, the euro surpasses the dollar in international payments

Thu Nov 19, 2020
watermark Economic news

According to the SWIFT payment system*, the single European currency surpassed the US dollar in international payments in October this year for the first time since July 2013.


In July 2013, the share of the euro in international payments was 37.5%, and the share of the dollar – 36.14%, but in August, the dollar regained leadership, reaching 40.14%, and the euro dipped to 16.16%.


At the end of October 2020, the share of the euro was 37.82%, and the share of the dollar was 37.64%. 


* SWIFT is an international interbank system for transferring information and making payments. More than 11 thousand of the largest organizations in about 200 countries are connected to it.


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Foreign exchange trading carries a high risk of losing money due to leverage and may not be suitable for all investors. Before deciding to invest your money, you should carefully consider all the features associated with Forex, as well as your investment objectives, level of experience, and risk tolerance.