Forex

Euro reaches 20-year low

The euro exchange rate EUR fell by 0.7%, to $0.988, on the international Forex market as of today. This was the lowest since 2002, Bloomberg reported.

The euro exchange rate against the dollar fell against the background of the aggravation of the energy crisis in Europe. The European currency hit its lowest level in 20 years after Gazprom announced a complete suspension of natural gas supplies through the Nord Stream pipeline, which could increase economic problems for businesses and households in Europe, the newspaper writes.

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In turn, the dollar index at the moment rose by 0.6% and reached 110.27 points, which was a new high since 2002.

The indicator has updated its maximum in 20 years against the backdrop of falling world currencies, especially the euro and the Japanese yen, writes CNBC. Thus, the dollar against the Japanese currency strengthened to 140.3 yen per dollar.

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