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Euro plummets to a 20-year low amid war in Ukraine | News | DW


The euro sank to a two-decade low of $0.9810 on Thursday.

It came after Russian President Vladimir Putin ordered the partial mobilization of reservists in an escalation of the war in Ukraine and after the Federal Reserve enforced another stark interest rate hike as a response to soaring inflation. 

The Federal Reserve also forecast that more hikes were coming, which left many market experts surprised. 

It was the first time since October 2002 that the euro to dollar ratio hit 0.9814. 

The European Central Bank (ECB) had joined the push to fight inflation just recently, but has struggled to fully curb it. 

The ECB, like many other central banks for developed western economies, has consistently held interest rates at or near zero almost without interruption since the financial crash…



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