Beautiful Virgin Islands

Tuesday, Apr 22, 2025

Euro, Dollar Equal in Exchange Rates for 1st Time in 20 Years

Euro, Dollar Equal in Exchange Rates for 1st Time in 20 Years

For the first time in nearly two decades, the exchange rate between the euro and the U.S dollar is about equal.
The euro dropped to a 20-year low on Monday, approaching parity with the dollar on fears that an energy crisis in the European Union could drag the region into a recession. The euro traded at around $1.007 on Monday afternoon in the U.S, down roughly 15% from the start of the year.

The parity between the two currencies comes as Russia shut off a key pipeline – Nord Stream 1 – carrying gas to Germany for annual maintenance. While the routine work that includes “testing of mechanical elements and automation systems” is scheduled to end on July 21, German officials fear the suspension of Russian gas could last longer than anticipated because of the war in Ukraine.

“Everything is possible, everything can happen,” German economy minister Robert Habeck told Deutschlandfunk radio on Saturday, according to a translation from the Guardian. “It could be that the gas flows again, maybe more than before. It can also be the case that nothing comes.”

The dollar, meanwhile, has been bolstered by growing risk aversion in the U.S.: Investors are fleeing toward the greenback as a safe haven of sorts as the Federal Reserve moves to hike interest rates at the fastest pace since 1994 to curb white-hot inflation. Fed policymakers already approved a 75 basis point hike in June and are expected to do so again at the end of July as they race to cool consumer demand.

The U.S. central bank is raising rates far more aggressively than the European Central Bank, which has also helped to boost the dollar. And while there are recession fears brewing in the U.S., experts believe the odds of an economic downturn in Europe are even higher.
Newsletter

Related Articles

Beautiful Virgin Islands
0:00
0:00
Close
Nightlife in the streets of Manchester
In God We Profit
Cultural Battles in the Vatican: The Candidates in the Battle for the Holy See and Pope Francis's Testament
Global Leaders Pay Tribute to Pope Francis Following His Death
Wild Chimpanzees Observed Bonding Over Alcoholic Fruit
US Federal Reserve Chair Issues Warning on Tariff Impact
UK Prison Officers Demand Electric Stun Guns Amid Safety Concerns
China, China, China!
Australian National Charged as Mercenary for Fighting in Ukraine
Israel Considers Limited Strikes on Iran's Nuclear Facilities Amid Diplomatic Efforts
Prince Andrew Joins Royal Family Attends Easter Sunday Service at Windsor Castle
Saudi Arabia Offers Max Verstappen Unprecedented Deal to Join Aston Martin
Global Pistachio Shortage Amid Rising Demand for 'Dubai Chocolate'
Trump is assembling a coalition of Western leaders aligned with the MAGA vision, strengthening a unified front for global change
IMF Predicts No Global Recession Amid Trade Tensions
Here’s a police officer with a brilliant gift for swift education
"Some complain that we put thousands in prison. In reality, we set millions free."
This is Vienna, Austria in 2025.
Boeing Jet Returns to US from China Amid Tariff War
Canadian Federal Election: Candidates' Positions on US-Canada Relations and Donald Trump
Resentencing Hearing for Menendez Brothers Who Killed Their Parents Delayed Amid Legal Disputes
Australian Woman Gives Birth To Stranger's Baby In IVF Mix-up
US Sets Deadline for Russia-Ukraine Peace Deal Brokerage
Italy Introduces 'Sex Rooms' in Prisons for Inmates
California Launches Legal Challenge Against Trump Administration's Tariffs
"Groundless": China Dismisses Zelensky's Claims It's Supplying Arms To Russia
UK Psytrance Festival Cancelled Amid Local Protests Over Noise Concerns
French Far-Right Writer Renaud Camus Denied Entry to UK
UK Police Force Updates Search Policy for Trans Individuals in Custody
Italian Prime Minister Giorgia Meloni Meets with Donald Trump to Discuss EU-US Trade Tensions
Canada's Federal Party Leaders Engage in Final Debate Ahead of General Election
Ukraine and US Sign Outline of Minerals Deal
Fast Food Chain Refuses to Apologize for Online Comment About Katy Perry's Space Voyage
New York Attorney General Letitia James Faces Criminal Referral for Alleged Mortgage Fraud
Mark Cuban admits support for Trump executive order: ‘Gotta be honest’
US Senator Meets with Deported Immigrant in El Salvador Amid Custody Dispute
U.S. State Department Raises El Salvador’s Safety Ranking, Making It Safer Than France and Other European Nations
UK Government Assumes Control of British Steel's Scunthorpe Plant Amid Shutdown Threat
UK MP Wera Hobhouse Denied Entry to Hong Kong During Family Visit
Bangladesh Issues Arrest Warrant for UK MP Tulip Siddiq
China Urges United States to Cancel Tariffs Amid Escalating Trade Tensions
The Empire’s USD Pyramid Scheme Is Working Brilliantly—So Why ‘Fix’ It?
China Raises Tariffs on U.S. Goods to 125% Amid Escalating Trade Dispute
Elon Musk Reports $150 Billion in Projected Government Savings Amid Fraud Investigations
U.S. and Panama Finalize Defense Agreements Amid Canal Access and Chinese Influence Concerns
China Stands Firm Amidst Trade Disputes with the US: A Factual Analysis
U.S. Tariff Escalation Sparks Global Trade Tensions
Helicopter crashes in NYC with four people on board.
Australia Dismisses China's Suggestion to Collaborate Against US Tariffs
EU Postpones Response to US Tariffs
×