CNN: The euro and the US dollar are at parity for the first time in 20 years
New York (CNN Business)For the first time in 20 years, the exchange rate between the euro (EUU) and the US dollar has reached parity -- meaning the two currencies are worth the same.
The euro hit $1 on Tuesday, down about 12% since the start of the year. Fears of recession on the continent abound, stoked by high inflation and energy supply uncertainty caused by Russia's invasion of Ukraine.
The European Union, which received roughly 40% of its gas through Russian pipelines before the war, is attempting to reduce its dependence on Russian oil and gas. At the same, Russia has throttled back gas supplies to some EU countries and recently cut the flow in the Nord Stream pipeline to Germany by 60%.
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WNU Editor: The British pound is also reaching new lows against the US dollar .... Euro nears parity with dollar as pound hits two-year low (The Guardian).
You can check the current US/Euro rate here (link here).
Euro And The US Dollar Are At Parity For The First Time In 20 Years
Euro takes a breather after teetering on the brink of dollar parity -- CNBC
Euro reaches parity with dollar for the first time in 20 years -- Euronews
Euro Buyers Emerge in Last-Gasp Defense of Dollar Parity Level -- Bloomberg
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