The Washington PostThe Washington Post

The euro is nearly equal to the dollar. Here's why it matters.

By Aaron Gregg, Ellen Francis, Bryan Pietsch

12 Jul 2022 · 4 min read

Editor's Note

The Washington Post explains the significance of 1 Euro equalling 1 US Dollar. It's good news for US travelers to Europe, but could be bad news for Europeans.

The euro and the U.S. dollar are exchanging at a nearly 1-to-1 rate for the first time in nearly two decades, when the European currency was in its infancy.

The euro has been losing ground against the dollar since the start of the year, when it hovered near $1.13, amid an aggressive inflation-fighting campaign by the U.S. Federal Reserve, along with broader global disruptions set off by the Russian invasion of Ukraine. As of Tuesday it stood near $1.0040 - just a hair above parity.

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