First One-to-one Exchange Rate Between Dollar And Euro Since 2002

• There was a one-to-one exchange rate between the euro and the dollar.
• The euro, which is shared by 19 European countries, has slipped by over 11% throughout 2022.
• When looking at the crypto market, the two crypto market leaders, Bitcoin (BTC) and Ethereum (ETH), are still significantly stronger than the dollar.

The war on the eurozone border, the uncertain energy supply from Russia and the growing risk of a recession all led to the pressure building so high on the euro that it dipped below parity with the US dollar on Wednesday. In other words, there was a one-to-one exchange rate between the two currencies.

This has not occurred since the euro’s infancy in December of 2002. An analyst at the Dutch bank ING stated that “1.00  is probably the biggest psychological level around”.

In addition to this, the euro has steadily been declining against the dollar. The euro, which is shared by 19 European countries, has slipped by over 11% throughout 2022. As a result of this, the strength of the dollar has basically been unmatched.

This means that the euro’s decline came at a time when the dollar gained strength against almost all of the major currencies found around the globe.

When looking at the crypto market, the two crypto market leaders, Bitcoin (BTC) and Ethereum (ETH), are still significantly stronger than the dollar, and now the euro, with BTC’s price trading at $21,116.21 and the ETH price trading at $1,557.66.

However, the prices of the two largest cryptos by market cap, BTC and ETH, have dropped around 0.92% and 2.75% prospectively, over the past 24 hours. This is according to the crypto market tracker, CoinMarketCap. But despite this, they are still stronger than the euro. In the same time period, the euro has weakened by around 0.26% against the dollar, according to TradingView.