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The Euro and The US Dollar Reach Parity for the First Time in Two Decades

by Jose Nino


On July 12, 2022, the euro reached $1. This marked a 12% drop since the start of 2022.

The last time that the euro and dollar were at parity was 2002. Physical euro coins and banknotes first started circulating on January 1, 2002.

As a report by PressTV noted, the EU “used to receive roughly 40% of its gas through Russian pipelines.”

Now, the EU has to cope with high inflation and energy shocks since Russia began its military operation against Ukraine. On top of the EU’s energy crisis, there is an economic contraction taking place in the bloc, which has raised speculation about an economic recession being around the corner…


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