15:00 - 13.07.2022

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July 13, Fineko/abc.az. “The sharp strengthening of the US dollar continues on the world market. The US currency is strengthening compared to most basket currencies. The euro has equaled the dollar for the first time in the last 23 years,” ABC.AZ reports, quoting MP Vugar Bayramov. 

He emphasized that now you have to pay almost 1 dollar for 1 euro on the stock exchanges: "This year, the euro has lost 18% of its value. The cheapening of European money accelerated after the start of the Russian-Ukrainian war."

Inflation rate in eurozone is quite high

MP about sharp strengthening of US dollar

According to the MP, the main cause of the sharp fall of the euro is the war in Ukraine. 
"On the other hand, restrictions on Russian gas supplies to Europe and high inflation in the eurozone, negative transparency of economic forecasts and expectations of a deeper crisis in general weaken the euro. The sharp rise in prices for blue fuel seriously hinders the development of the real sector in the old world," Bayramov stressed.