1 US Dollar = 1 Euro

Jakarta

Exchange rates United States (US) dollar to euro recorded equivalent today. Citing RTI trading data, Tuesday (12/7/2022), US $ 1 is equivalent to 1.0014 euros. This is history that has happened in the last 20 years.

Collect CNNTuesday (12/7/2022), the euro hovered around US$ 1.004 on Monday afternoon, down about 12% since the start of the year.

Depreciation of the exchange rate euro against the US dollar happened not without reason.

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Fears of a recession in continental Europe abound, fueled by high inflation and uncertainty in energy supplies caused by Russia’s invasion of Ukraine. Understandably, the European Union supplied about 40% of its gas via pre-war Russian pipelines. Russia has now restricted gas supplies to several EU countries and recently cut the Nord Stream pipeline to Germany by 60%.

Now a significant part of the gas import infrastructure in Europe has been closed for scheduled maintenance due to the last 10 days of inactivity. German officials were even concerned that it might not turn on again.

The energy crisis has come alongside an economic slowdown, which casts doubt on whether the European Central Bank can adequately tighten policies to lower inflation. The ECB announced that it would raise interest rates this month for the first time since 2011, due to zone inflation rates euro was at 8.6%.

Also watch the video ‘Rupiah is getting worse, the US dollar is almost Rp. 15,000’:

[Gambas:Video 20detik]

(dna/fdl)

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