Friday, September 22, 2023

The euro falls below US$1.1050 after the ECB decisions

He euro depreciated below US$1.1050 after the European Central Bank (ECB) will slow down the rate of interest rate rises in an environment of risk aversion.

The euro was exchanged around 10:00 GMT at $1,1025, against US$1.1052 in the last hours of the European trading of the foreign exchange market of the previous day.

The European Central Bank (ECB) fixed the exchange rate reference of the euro at US$1.1074.

The entity slowed the rate of increases in interest ratessince the ones that it has undertaken up to now are already reaching the real economy, but it is not stopping and it is going to increase them more in the coming months because inflation is still very high.

He government council The ECB decided to raise its rates only by a quarter of a point, to 3.75%.

It is the seventh rise of consecutive interest rates since the ECB began to increase them in July 2022 and leaves them at the highest level since October 2008, after the outbreak of the financial crisis due to the bankruptcy of the investment bank Lehman Brothers.

The currency The single currency was exchanged in a fluctuation band between US$1.1005 and US$1.1091.

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