The euro exchange rate has been falling for months and is now at the same level as the US dollar. A year ago, one euro cost $1.20, and by the beginning of 2022, it had already plunged to $1.13. Since then, the depreciation continued and culminated in a brief parity with the US dollar on Tuesday, before dropping below $1 on Wednesday.
Experts identify two main reasons why the euro has lost value, one being the soaring inflation in the euro area (EA), Sushanta Mallick, professor of international finance at Queen Mary University of London, told Al Jazeera.
