Business Finance Glossary - E

Equity

The value of something, such as a house, less money owing on it.

Euro (€)

The euro is the common currency of some members of the European Union.The European single currency which has replaced national currencies in a number of European states. Euro
The European currency unit used by twelve members of the European Union: Austria, Belgium, Finland, France, Germany, Greece, Ireland, Italy, Luxembourg, Netherlands, Portugal and Spain, all of which have joined Economic and Monetary Union (EMU) and now use the Euro in place of their old national currencies.

Exchange Rate

The value of one currency compared to another. This is the value of one currency compared to another.

Excise Duty

A UK duty charged on both UK produced and imported goods. Goods subject to excise duty include beer, wine, spirits and other alcoholic drinks; hydrocarbon oils (including fuel oil); and tobacco goods. The rate of duty is set separately for each product.

Export

Movement of goods from the UK to a destination outside the European Union, this includes the Channel Islands.