The Euro Falls and Reaches a 20-Year Low

Alanbat- Mohammad Alnimer

The euro fell on Tuesday against a basket of global currencies, deepening its losses for a fourth day against the US dollar, marking a new 20-year low due to Europe's worsening economic crises, especially the fuel crisis and lack of natural gas supplies.

According to Wall Street Journal (WSJ), the euro fell against the dollar by more than 0.4% to the lowest $0.9899 since December 2002, from the opening price of trading at $0.9942, and recorded today's high of $0.9950.

On Monday, the euro lost 1.0% against the dollar in its third consecutive daily loss, following Russia's new gas supply decision to Europe.