The closest currency to the U.S. dollar is the Euro; which is the new currency of the European Common Market. The Euro is the unified, single currency for the following European nations: Austria, Belgium, Finland, France, Germany, Greece, Ireland, Italy, Luxembourg, the Netherlands, Portugal, Slovenia and Spain. Europe and America tend to be very close in terms of currency exchange, but some arbitrage potential does exist as the Euro is still somewhat volatile when compared to the U.S. dollar. Given the stability of the European markets, there is some speculation that the Euro may even someday surpass the U.S. dollar and become the primary world reserve currency - the currency upon which all other currencies are measured. Today, the first reserve currency is the U.S. dollar, and the second is the Euro.
