Where does the EUR/USD historical data before 1999 come from?

Dear all,

I manage to download daily historical data from Metaquotes for EUR/USD from as early as 1989. But wondering isn't Euro established in 1992 and not used until 1999. Where did the 1989 data come from (since there was no Euro at that time? Mark?) ?

Thanks!

TS

I think it comes from Weighting all the pre-Euro Currencies (mark, pesatas, french francs etc) at the point when they changed to Euros and so you get a fair representation of the value of the EUR.

However not really much use to it.

before the big shift the exchange rates where being fixed, to a single unit value i believe but i haven't research into this so do not take my word for it.

the EURO did not simply appear, it took a while for all currencies to be adjusted and priced to a universal unit ( i think) and that is how you get the euro pre 1999

Pre-Euro rates are based on the Deutsche Mark as it was the strongest of the currencies at the time.

I had asked that question myself, too.

Quoting another website: