For the first time in nearly 20 years, 1 euro is about the same value as 1 US dollar. The euro, which is shared by 19 European countries, has recently been under pressure against the dollar, like many other currencies, and has lost more than 10% of its value this year.
Due to the war in Ukraine, limited energy supply from Russia, high inflation and increased risk of recession in the euro area, the euro has been reduced to the equivalent whisker, a one-to-one exchange rate with the dollar. Was done. Concerns that a critical natural gas pipeline from Russia to Germany, which went offline for planned maintenance this Monday, could remain closed for longer, have hit the euro hard. rice field.
There was a small slide on Tuesday following a sharp fall in the euro on Monday, at which point it raised the euro within a fraction of the dollar without crossing the threshold.
The euro last showed the same value as the dollar in December 2002, shortly after the currency was introduced in 1999.
In other markets on Tuesday, European and Asian equities fell mostly, and US futures also fell. Borrowing cost benchmarks, government bond yields, have fallen as well as oil prices, reflecting concerns about economic growth.
