Euro, U.S. Dollar Reach Same Exchange Rate for First Time in 20 Years

For the first time in 20 years, the exchange rate between the Euro and the U.S. Dollar is the same. The Euro hit $1 today, down about 12% since the beginning of the year. According to analysts, fears of recession in Europe, high inflation and energy supply uncertainty caused by Russia’s War on Ukraine are some of the main reasons for the decline.