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Friday, March 31, 2023

Euro rose to highest level since April 2022

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The European single currency was last on Monday at $ 1.0892 after climbing to $ 1.0903 overnight, the highest level since April 2022. In September last year, the euro was mainly due to concerns about The pair fell as low as $0.9536 following a sharp economic slump in Europe following the Russian attack on Ukraine. The forecasts for Europe are now somewhat more optimistic again.

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In addition, ECB representatives, including President Christine Lagarde, confirmed last week that monetary policy would be significantly tightened to combat high inflation.

The European Central Bank set the reference rate at $1.0826 (Thursday: $1.0815) on Friday afternoon. The dollar thus cost 0.9237 (0.9246) euros. In New York, the euro was trading at $1.0854 around 9 p.m. on Friday.

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Source: Nachrichten

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