The latest European Central Bank (ECB) reference exchange rates. These are usually updated at around 16:00 CET every working day. The reference rates are published for information purposes only. Using the rates for transaction purposes is strongly discouraged.
The ECB publishes the euro foreign exchange reference rates for all the official currencies of non-euro area Member States of the European Union. Beyond that, the euro foreign exchange reference rates of the currencies with the most liquid active spot FX markets are set and published. The ECB may, in consultation with the Market Operations Committee, include any other world currency.
The rates are determined as the mid (arithmetic average) of the bid and ask quotes observed.

EURIBOR – Euro Interbank Offered Rate
The Euro Interbank Offered Rate (EURIBOR) is the benchmark interest rate at which leading European banks lend to one another on the interbank market. It reflects the average rate across short-term maturities and serves as a reference point for lending and borrowing costs in euros across the Eurozone.

Live Data and Interactive EURIBOR Charts
The table above is updated daily and includes all available EURIBOR maturities: 1 week, 1 month, 3 months, 6 months, and 12 months. Each row can be expanded to view a real-time graph with the historical evolution of that specific term. This allows you to visually analyze market expectations, trends, and shifts in euro area short-term rates.

Publication Schedule and Relevance
EURIBOR is published by the European Money Markets Institute (EMMI) every business day, based on submissions from a panel of major European banks. Rates are released with a 24-hour delay, typically around 11:00 CET, and represent unsecured lending activity in euros.


Frequently Asked Questions about EURIBOR

What is EURIBOR?
EURIBOR (Euro Interbank Offered Rate) is a benchmark interest rate used throughout the Eurozone. It measures the average rate at which prime banks lend unsecured funds to each other for specific maturities ranging from 1 week to 12 months.

Which EURIBOR maturities are available?
The most commonly tracked EURIBOR terms are: 1W (1 week), 1M (1 month), 3M (3 months), 6M (6 months), and 12M (12 months). These are key indicators for both short-term borrowing costs and longer-term lending rates.

How does EURIBOR compare to ESTR?
While ESTR reflects the cost of actual overnight transactions, EURIBOR is based on rate estimates for different short-term maturities. EURIBOR provides a longer-term outlook on funding costs, while ESTR is more closely tied to daily market liquidity.

Where is EURIBOR used?
EURIBOR is widely used in mortgages, variable-rate loans, financial derivatives, and savings products. It influences interest payments, contract valuations, and economic forecasting across Europe.

How is EURIBOR calculated?
Each day, a panel of major European banks submits estimated rates at which they believe they could borrow from other banks. After trimming the top and bottom values, a trimmed mean is calculated and published by EMMI as the official EURIBOR.

How can I track EURIBOR changes?
Use the interactive charts provided in the table above. You can expand each maturity to monitor historical changes and market sentiment across different terms.

What’s the EURIBOR forecast for 2025?
Market analysts expect EURIBOR to reflect shifts in ECB monetary policy, inflation trends, and macroeconomic outlooks. Forecasts may vary, but trends can be tracked daily through this platform.

ESTR – Euro Short-Term Rate
The Euro Short-Term Rate (ESTR or €STR) reflects the cost of unsecured overnight borrowing between financial institutions in the euro area. It is a key indicator of short-term euro funding conditions, published by the European Central Bank (ECB) every business day at 08:00 CET. The rate is based on overnight transactions settled on the previous business day.

Interactive Chart and Historical ESTR Data
The interactive table above allows you to expand and view a graph showing ESTR’s daily evolution. Analyze short-term interest rate trends in the euro area and monitor movements in real-time. This visual representation is ideal for financial analysts, traders, and economic researchers.

Publication Time and Calculation Method
ESTR is calculated based on actual transactions between major European institutions, excluding secured lending. It reflects the volume-weighted average rate of the overnight segment of the euro money market and is considered highly reliable due to its transaction-based methodology.


Frequently Asked Questions about ESTR

What is ESTR?
ESTR (Euro Short-Term Rate) is a reference interest rate measuring the average cost of unsecured overnight borrowing in euros. Introduced by the ECB, it replaced the older EONIA benchmark and now serves as the primary short-term rate in the euro area.

When is ESTR published?
ESTR is published by the European Central Bank (ECB) every business day at 08:00 CET, reflecting transactions from the previous day’s trading session.

What is the difference between ESTR and EURIBOR?
ESTR is based on actual unsecured overnight transactions, while EURIBOR reflects estimated interest rates for longer maturities (1 week to 12 months). ESTR is generally more stable and based on real market activity.

How does ESTR compare to SOFR?
Both are overnight unsecured rates, with ESTR for the euro area and SOFR for the U.S. dollar. They serve similar functions and are widely used as alternatives to legacy rates like LIBOR.

How is ESTR calculated?
ESTR is a volume-weighted average of interest rates on overnight unsecured transactions between large banks in the euro area. It is calculated from real trades, ensuring accuracy and transparency.

Where can I view ESTR historical data?
You can explore historical ESTR data using the interactive chart above. Choose your desired time range to study past performance and analyze interest rate trends over time.

Is ESTR used in financial products?
Yes. ESTR is already being used as a benchmark in derivatives, bonds, and structured financial products denominated in euros. It is gradually replacing EONIA across euro-denominated markets.

The Deposit Facility Rate represents the rate banks may use to make overnight deposits with the Eurosystem at a pre-set interest rate. The Deposit Facility Rate is set by the Governing Council of the ECB.

Euro Area Yield Curve – ECB Daily Spot Rates
The Euro area yield curve reflects the nominal interest rates on government bonds with various maturities, issued by triple-A rated entities in the eurozone. These values, also known as spot rates, are published by the European Central Bank (ECB) every business day at around 12:00 CET, covering the previous day’s market conditions.

Interactive Chart and Yield Curve Analysis
The table above provides a comprehensive daily view of spot rates for maturities ranging from 3 months to 10 years. Each row can be expanded to show a dynamic chart that reveals how yields have evolved over time. This visualization is ideal for assessing market sentiment, investor expectations, and the economic outlook across different time horizons.

Understanding the Yield Curve
The yield curve, also called the term structure of interest rates, shows the relationship between bond yields and time to maturity. A rising curve typically signals growth and inflation expectations, while a flat or inverted curve can indicate economic slowdown or market uncertainty.


Frequently Asked Questions about the EU Yield Curve

What is the euro area yield curve?
The euro area yield curve is a graphical representation of spot interest rates for government bonds with different maturities. It shows how yields change over time, helping to assess market expectations for inflation and interest rate changes.

Who publishes the EU yield curve data?
The European Central Bank (ECB) publishes the euro area yield curve data every business day, using inputs from bonds issued by highly rated eurozone entities.

What maturities are included in the ECB yield curve?
The most common maturities include: 3 months, 6 months, 9 months, 1 year, 2 years, 3 years, 4 years, 5 years, and 10 years. These points help map the full shape of the curve.

What does the shape of the yield curve indicate?
A normal upward-sloping curve signals economic expansion and potential inflation. A flat curve may suggest uncertainty, while an inverted curve often precedes recessions and signals negative growth expectations.

How can I use the interactive chart?
Click on any maturity row in the table to view a historical chart showing how that particular yield has evolved. You can track daily changes and zoom in on key timeframes to better understand market trends.

What affects changes in the EU yield curve?
Factors include ECB monetary policy, inflation expectations, investor risk appetite, and macroeconomic indicators. Geopolitical tensions and global interest rate shifts also play a role.

Why are yield curves important?
They guide investment strategies, pricing of loans, and bond market decisions. Central banks, governments, and private investors all monitor the yield curve to make informed economic and financial choices.