Just for fun, I took a look at GBP/USD and it looks like that is tanking as well.
Meanwhile the ruble is stronger than it's been in 4 years.
For people in the EU/UK, how has this currency slide impacted your day to day?
Euro falls below parity with the dollar
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Re: Euro falls below parity with the dollar
#22The title of this makes me annoyed. What parity? They're both abstract made up units that happened to be even on a random scale for a while. This is financial numerology :-( (yes, I know there's more content and "this week's currency summary" sounds less fun and I should chill out)
Might as well get annoyed at people for celebrating anniversaries. It turns out that noting arbitrary patterns in numbers is just a common way to observe changes in continuously-measured values.
We're out here. Don't you dare tell me "happy birthday".
Re: Euro falls below parity with the dollar
#23Another interesting thing is that many countries are experiencing lower inflation than the US, but their currency is getting weaker, so the USD's purchasing power is increasing two-fold. I've been planning a trip to Malaysia because while their exchange rate against the dollar has fallen, they've only experienced ~3% inflation, so not only are all of their products 22% as expensive, they also haven't meaningfully changed in price since 3 years ago (from the dollar perspective), whereas the dollar's purchasing power in the US is basically down 25%.
Re: Euro falls below parity with the dollar
#24Just for fun, I took a look at GBP/USD and it looks like that is tanking as well. Meanwhile the ruble is stronger than it's been in 4 years. For people in the EU/UK, how has this currency slide impacted your day to day?
>For people in the EU/UK, how has this currency slide impacted your day to day?
Not at all?
I mean, I guess you could argue which caused which but the real problem here in central Europe are gas and energy prices. Those legitimately doubled and affect personal budgets.
Re: Euro falls below parity with the dollar
#25Earlier quoted context omitted.
Doesn't "historic low" mean "lowest it ever was in history"? That's not the case (yet).
Interestingly the Google exchange rate chart has historical rates for EUR/USD going back to 1982. Wonder where those numbers are coming from...
The Euro had two predecessors (kinda) - the European Unit of Account and the European Currency Unit. They weren’t day to day currencies, but they were used for things like cross-border bonds. The EUA was originally defined to be one dollar worth of gold back in the gold standard days.
Each transition saw a 1:1 conversion with fluctuation - usually to benefit the EUA/ECU/Euro - along the way.
Re: Euro falls below parity with the dollar
#26Earlier quoted context omitted.
Doesn't "historic low" mean "lowest it ever was in history"? That's not the case (yet).
Interestingly the Google exchange rate chart has historical rates for EUR/USD going back to 1982. Wonder where those numbers are coming from...
ECU[1] I'd guess
Re: Euro falls below parity with the dollar
#27Re: Euro falls below parity with the dollar
#28Earlier quoted context omitted.
I suppose "Euro falls to historic low against dollar" might have sufficed as a headline, but highlighting the relative values and the 1:1 threshold that was crossed (no matter how abstract it technically is) could help more readers connect with the story a bit more
Doesn't "historic low" mean "lowest it ever was in history"? That's not the case (yet).
I checked the EURUSD rate on Yahoo Finance, selected "MAX" for the date range, saw that it started @ 2004 which sounded about right. But thinking now I guess it launched a couple years prior and could easily have been lower back then.
https://finance.yahoo.com/chart/EURUSD%3DX#eyJpbnRlcnZhbCI6I...
Re: Euro falls below parity with the dollar
#29Just for fun, I took a look at GBP/USD and it looks like that is tanking as well. Meanwhile the ruble is stronger than it's been in 4 years. For people in the EU/UK, how has this currency slide impacted your day to day?
Day to day? Not at all. Everything is denoted in EUR anyway and imports are hedged.
Oil and gas are expensive, but the strong dollar isn’t the main factor.
Re: Euro falls below parity with the dollar
#30Earlier quoted context omitted.
Doesn't "historic low" mean "lowest it ever was in history"? That's not the case (yet).
Interestingly the Google exchange rate chart has historical rates for EUR/USD going back to 1982. Wonder where those numbers are coming from...
I think they mixed up the 90s and the 80s, since the Euro should date back to the agreement signed in 1992.