The exchange rate of the European currency, the euro, fell against its US counterpart in trading today, Friday, below $1.01 for the first time since December 2002.
According to Bloomberg, the euro rate fell by 0.72% to $1.0087 by 10:34 Moscow time.
The European currency is under pressure due to fears of an economic recession in the eurozone, amid the ongoing energy crisis and expectations of a rate hike by the European Central Bank (ECB) at its next meeting in July 2022.
Source: Prime + Bloomberg.