After months of falling, Europe’s single currency is doing better. The euro has risen to its highest level since spring last year.
At the start of the week, the euro rose to its highest level since spring last year. The rate of the European single currency was last Monday at $ 1.0892, after climbing to $ 1.0903 overnight, the highest level since April 2022. In September last year, the euro exchange rate was mainly due to concerns It 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.
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.
Jane Stock is a technology author, who has written for 24 Hours World. She writes about the latest in technology news and trends, and is always on the lookout for new and innovative ways to improve his audience’s experience.