The dollar becomes more expensive than the euro for the first time since December 2002
The exchange rate of the euro against the dollar on the international Forex market falls by 0.37% to $0.9999
What happened? The euro dropped significantly, having become cheaper than the dollar for the first time since December 2002.
Source. This was reported by the Financial Times.
Details. As of 15:45 p.m. Kyiv time, the euro to dollar exchange rate on the international Forex market fell by 0.37% to $0.9999.
The last time the euro was cheaper than the dollar was almost 20 years ago – in December, 2002.
Previously. A day earlier, the European currency fell to a 20-year low and approached parity with the dollar due to the fears that the energy crisis would push Europe into recession. Meanwhile the US currency rose because of expectations that the Federal Reserve would raise rates faster and further than other countries.
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