“We sell†transactions reached €678 089 200 and “we buy†transactions rose to €54 960 300.
The sales transaction exceeded purchase transactions by 12.3 times.
The amount of the euro the population bought rose by 52.8% while the amount of the euro they sold jumped by 4.2 times.
This trend was fuelled by the large-range volatility of the euro in 2008.
As shown in the diagram, the euro depreciation during most part of the year incited people to buy the 15-nation currency.
The “we sell†transactions in the euro (by population) hit the highest level in September (€14.5 million or 97% of the full amount in 2007) when the global financial crisis emerged.
Fear of a further decline in the euro stimulated people to sell the euros they bought previously. The “we buy†transactions hit the lowest level (€43.9 million)
However, the rising euro transactions indicate the 15-nation currency’s increasing role in the economy.
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