My Blog

Foreign exchange: Eurocurrency temporarily above $ 1.25 – Turkish lira at record low

The euro followed on Thursday the price gains of the previous day, but can not quite keep his daily gain. Only in the morning did the common currency temporarily jump above the 1.25 US dollar mark. In the afternoon, it was trading at $ 1,2482. The European Central Bank (ECB) set the reference rate at 1.2493 (Wednesday: 1.2348) dollars. The dollar cost 0.8005 (0.8099) euros.

With recent gains, the euro is nearing its three-year high that it reached $ 1.2537 in January. According to foreign exchange expert Esther Reichelt of the Commerzbank (DE: CBKG), the market is increasingly speculating that the ECB will take its foot off the accelerator because of the robust upturn in monetary policy. In addition, the high level of debt in the US is becoming more prominent, weighing on the dollar and giving the euro a boost. “The debt ghost is back,” commented expert Reichelt the mood in the market.

With strong gains, the South African Rand responded to the resignation of head of state Jakob Zuma. The national currency rose to its highest level in nearly three years. Meanwhile, investors only had to pay out $ 11.60 for a dollar.

The development of the Turkish lira is quite different. This has depreciated significantly against the euro since the beginning of the year and fell again to a record low on Thursday. At times, 4,7268 lira had to be paid for one euro, more than ever. The record low of the Turkish currency is to some extent explained by the current strength of the European single currency.

Among other major currencies, the ECB set the reference exchange rates for one euro at 0.8866 (0.8904) pound sterling, 133.11 (132.40) Japanese yen and 1.1545 (1.1519) Swiss francs. The troy ounce of gold was fixed in London this afternoon at 1352.45 (1336.25) dollars.

webmasterForeign exchange: Eurocurrency temporarily above $ 1.25 – Turkish lira at record low

Leave a Reply

Your email address will not be published. Required fields are marked *