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Eurozone’s Fiat Is Plunging – And Probably Won’t Bounce Back Soon
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cryptonews.comKeith Pilbeam, Professor of Economics, City, University of London.____
The euro has weakened against the US dollar since the beginning of 2021, from around USD 1.23 to its current exchange rate of USD 1.13. Thatâs a fall of about 9%, which is significant, especially since these are the two major currencies of the world. The drop has also intensified in November, falling 3% since the turn of a month, which has seen violence in European capitals over COVID restrictions, migrant problems at the Belarus-Poland border, and Russian troops amassing on the border of Ukraine.
The decline should be seen in a broader context, though. The euro is still stronger than a couple of years ago, when it was about USD 1.10. It also went through some heavy
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