The value of the euro falls to a 20-year low

The low exchange rate, which has not been seen in 20 years, raised concerns that the two currencies could reach equal rates for the first time since the introduction of the euro in 1999.

On July 5, the euro’s exchange rate against the dollar fell to its lowest level since 2002 as newly released data reflected the eurozone economy facing an increasing risk of recession.

As of 16:00, 1 euro is worth the equivalent of $1.0306.

The low exchange rate, which has not been seen in 20 years, raised concerns that the two currencies could reach equal rates for the first time since the introduction of the euro in 1999.