Currency

With the euro falling against the U.S. dollar, some exporting industries in Türkiye are bearing the brunt as they pay for imports in dollars but collect export revenues mostly in euros.

This week, the euro fell below parity with the dollar, diving to its lowest level in 20 years.

Last night, for the first time in 20 years, the euro equaled the US dollar amid a cut in Russian gas supplies to Europe and growing fears of a recession in the Eurozone.

The euro was trading at exactly one dollar, the lowest value since December 2002

Oil prices also fell on recession fears as central banks raised interest rates to combat high inflation.

Croatia will finally adopt the euro on 1 January 2023.

This became clear today after the Council of the EU signed the last three legal acts necessary for this purpose.

Ljubljana – Slovenia’s treasury has increased the issuance of three bonds with a total value of just under EUR 405.5 million, according to a posting on the website of the Ljubljana Stock Exchange. This is the first long-term borrowing under the new government of Robert Golob, which puts Slovenia’s total long-term borrowing this year at EUR 3.27 billion.

The British pound hit a fresh March 2020 low after the announcements

The rapid rise of the U.S. dollar since the start of the year is a double-edged sword for American multinational companies, pushing some of them to decide whether to hedge or reposition their activities abroad to avoid fallout.    

For an importer, the surge in the greenback against the euro, yen or British pound is a plus, because it makes the products they buy cheaper.  

South Korean prosecutors have barred dozens of people connected to Terraform Labs from leaving the country as they expand an investigation into a $40 billion collapse of the company's cryptocurrency that devastated traders around the world.

Ljubljana – Slovenia’s largest bank NLB is in excellent shape and well prepared for turbulent times ahead, chairman of the board Blaž Brodnjak said after today’s shareholder meeting. He is also not concerned by the tightening of monetary policy in the eurozone. When necessary, households and companies will be assisted, he announced.

Croatia plans to replace its national currency, the kuna, with the euro from January 1 next year

Even if Bulgaria's membership in the Eurozone is not approved, this does not mean that any sovereignty of the real monetary policy of the BNB will be preserved. An analysis by Krasen Stanchev, ClubZ.

"Sovereignty" is not linked to and is not "betrayed" by the introduction of the euro