<mediadc-video-embed data-state="{"cms.site.owner":{"_ref":"00000161-3486-d333-a9e9-76c6fbf30000","_type":"00000161-3461-dd66-ab67-fd6b93390000"},"cms.content.publishDate":1657737230374,"cms.content.publishUser":{"_ref":"0000016c-3f1f-d321-af7d-7f5f071a0000","_type":"00000161-3461-dd66-ab67-fd6b933a0007"},"cms.content.updateDate":1657737230374,"cms.content.updateUser":{"_ref":"0000016c-3f1f-d321-af7d-7f5f071a0000","_type":"00000161-3461-dd66-ab67-fd6b933a0007"},"rawHtml":"
var _bp = _bp||[]; _bp.push({ "div": "Brid_57737226", "obj": {"id":"27789","width":"16","height":"9","video":"1051681"} }); ","_id":"00000181-f224-d236-abbb-fe34c5650000","_type":"2f5a8339-a89a-3738-9cd2-3ddf0c8da574"}”>Video EmbedFor the first time in 20 years, the exchange rate between the euro and the U.S. dollar is the same.
The euro has lost more than 10% of its value against the dollar since the beginning of the year, and it fell to $1 on Tuesday. Europe is grappling with high inflation and an uncertain energy supply amid Russia’s invasion of Ukraine, which could spell further declines for the European currency.
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The last time the two currencies reached parity was in 2002, when the euro was only circulated by 12 member states in the European Union.
Recent economic struggles have raised concerns that the region will plunge into a recession. The EU received about 40% of its gas through Russian pipelines before the start of the war in Ukraine in late February and has since sought to sever its dependence on Russian oil and gas.
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Russia has also dwindled gas supplies to several EU countries as it faces mounting sanctions, including cutting the flow from the Nord Stream 1 pipeline to Germany by 60%, fanning fears that a scheduled temporary outage could end up becoming permanent.
