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Use this calculator to find out how many US dollars one Euro is worth.

How did we get from 11 to 23?

The euro can trace its roots to World War II. After that war, the countries of Europe looked for ways to prevent another European war.

Prevent Another War

After World War II, the countries Europe formed the European Coal and Steel Community. Today it's called the European Union, with 27 member nations.

In 1998 they created the European Central Bank to keep prices steady within the countries. The European Central Bank keeps prices stable by fighting inflation.

The formation of the European Central Bank paved the way for a common currency. The single currency helps:

• Citizens of the member countries feel a common identity and the possibility of further cooperation.
• Shoppers compare prices across national borders.
• Manufacturers sell goods in other countries without the need to convert currencies.

CloseThe original 11 countries decided that a single currency among the countries would help unite Europe politically and economically. In time, more countries participated.

Using a single currency has another advantage. People who travel among the participating countries do not need to exchange their money.

That means you can visit France and Italy and use the same euros in either country.

That saves money too. Most places that exchange currency charge a conversion fee for their services.

So, every time you convert your money to another currency, you lose some of it.

Balance: U.S. dollar vs. euro

When you travel, keep several payment options close at hand.

The value of a U.S. dollar changes in relation to the euro every day. That's because supply and demand decides how many dollars a euro is worth and vice versa.

Suppose more people want dollars rather than euros. Then the value of the dollar rises while the value of the euro falls.

Why would people in another country want dollars? So they could buy things from the United States.

The more dollars other countries want, the more a dollar is worth.

It works the same way with the euro. That's because an increase in demand decreases the supply, and the smaller the supply, the greater the value.

The future of the euro

Because the value of the euro changes constantly, the future is anyone's guess. As for the currencies it replaced, they are virtually worthless.

A Spanish peseta won't buy you much, but might make a fun addition to a currency collection.