U.S. Dollar and Euro Achieve Parity for First Time in 20 Years

The exchange rate between the euro and the US dollar was almost equal for the first time in 20 years.

On Monday afternoon, the euro was trading at approximately $1.004, down almost 12% from the year’s beginning.

The euro reached its lowest level in more than 20 years by 10:00 GMT on Tuesday, falling to $1.

The US dollar has surged to two-decade highs against a variety of currencies in recent weeks, strengthening its position as the go-to currency for investors concerned about the economic prospects.

Given the impact of the ongoing natural gas price surge on the local economy and the conflict in Ukraine, the euro has been particularly vulnerable.

The dollar index has been moving upward as a result of the euro’s weakness, as well as concerns about global economic development as China, in particular, enforces tough zero-COVID measures to control new outbreaks.

The belief that the Federal Reserve will raise rates quicker and further than rivals was, however, arguably the main reason for the dollar’s increase.


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