Euro drops to US dollar

05.07.2022,17:40


July 5, Fineko/abc.az. In connection with the slowdown in economic growth and the weakening of forecasts that the crisis will weaken European Central Bank’s expectations on raising interest rates, the euro fell to the level of 20 years ago.

ABC.AZ reports that the euro fell by 1.4% to $1.0277, which is the lowest level since December 2002 (data as of 17:07 Baku time).

In France, ECB's expectations for an increase in interest rates on foreign exchange markets fell from 1.90 points to 1.40 points this year after the PMI index was revised down.