Euro cost suffers the worst fall since 2002

The euro fell in price against the dollar once more, this time by 0,7%. European money is worth 99 cents on Monday, September 5. More specifically, it costs $0.991 to buy a euro. This is the worst fall for the currency in the last 20 years.

In 2022, the usual hierarchy of currencies — with the euro being slightly above the dollar — has already been repeatedly violated. First, on July 12, brief price parity was established between them. And the very next day it was broken. The euro became cheaper than the dollar for a short time. For the first time in two decades.

What triggered today’s 0,7% fall? It is most likely a consequence of the Nord Stream gas pipeline closing for an indefinite period last Friday.