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EXCEL - IDEA: XBRL DOCUMENT - CURRENCYSHARES EURO TRUSTFinancial_Report.xls
10-K - FORM 10-K - CURRENCYSHARES EURO TRUSTd449342d10k.htm
XML - IDEA: XBRL DOCUMENT - CURRENCYSHARES EURO TRUSTR9.htm
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EX-3.2 - AMENDMENT TO CERTIFICATE OF FORMATION - CURRENCYSHARES EURO TRUSTd449342dex32.htm
EX-31.1 - CERTIFICATION - CURRENCYSHARES EURO TRUSTd449342dex311.htm
EX-23.1 - CONSENT OF ERNST & YOUNG LLP. - CURRENCYSHARES EURO TRUSTd449342dex231.htm
EX-32.1 - CERTIFICATION - CURRENCYSHARES EURO TRUSTd449342dex321.htm
EX-31.2 - CERTIFICATION - CURRENCYSHARES EURO TRUSTd449342dex312.htm
EX-32.2 - CERTIFICATION - CURRENCYSHARES EURO TRUSTd449342dex322.htm
XML - IDEA: XBRL DOCUMENT - CURRENCYSHARES EURO TRUSTR5.htm
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v2.4.0.6
Significant Accounting Policies (Policies)
12 Months Ended
Oct. 31, 2012
Significant Accounting Policies [Abstract]  
Use of Estimates
A. Use of Estimates

The preparation of financial statements in conformity with accounting principles generally accepted in the United States of America requires management to make estimates and assumptions that affect the reported amounts of the assets, liabilities and disclosures of contingent liabilities at the date of the financial statements and the reported amounts of revenue and expenses during the period and the evaluation of subsequent events through the issuance date of the financial statements. Actual results could differ from those estimates.

Foreign Currency Translation
B. Foreign Currency Translation

The Trustee calculates the Trust’s net asset value (“NAV”) each business day, as described in Note 4. As of November 13, 2008, euro deposits (cash) are translated for NAV calculation purposes at the Closing Spot Rate, which is the USD/euro exchange rate as determined by The World Markets Company PLC, a State Street business, at 4:00 PM (London fixing) on each day that NYSE Arca is open for regular trading.

The functional currency of the Trust is the euro in accordance with generally accepted accounting standards. For financial statement reporting purposes, the USD is the reporting currency. As a result, the financial records of the Trust are translated from euro to USD. The Closing Spot Rate on the last day of the period is used for translation in the statements of financial condition. The average Closing Spot Rate for the period is used for translation in the statements of income and comprehensive income and the statements of cash flows. Any currency translation adjustment is included in comprehensive income.

Federal Income Taxes
C. Federal Income Taxes

The Trust is treated as a “grantor trust” for federal income tax purposes and, therefore, no provision for federal income taxes is required. Interest, gains and losses are passed through to the Shareholders.

Shareholders generally will be treated, for U.S. federal income tax purposes, as if they directly owned a pro-rata share of the assets held in the Trust. Shareholders also will be treated as if they directly received their respective pro-rata portion of the Trust’s income, if any, and as if they directly incurred their respective pro-rata portion of the Trust’s expenses. The acquisition of Shares by a U.S. Shareholder as part of a creation of a Basket will not be a taxable event to the Shareholder.

Revenue Recognition
D. Revenue Recognition

Interest on the primary deposit account, if any, accrues daily as earned and is received on a monthly basis.

Dividends
E. Dividends

To the extent that the interest earned by the Trust exceeds the sum of the Sponsor’s fee for the prior month plus other Trust expenses, if any, the Trust will distribute, as a dividend (herein referred to as dividends or distributions), the excess interest earned in euro effective on the first business day of the subsequent month. The Trustee will direct that the excess euro be converted into USD at a prevailing market rate and the Trustee will distribute the USD as promptly as practicable to Shareholders on a pro rata-basis (in accordance with the number of Shares that they own).