The price of the euro fell below $0.99, today, Monday, in light of the uncertainty surrounding the prospects for the European economy after the announcement by the Russian Gazprom Group, last Friday, to completely stop gas supplies through the Nord Stream pipeline.
The euro fell today by 0.70% to $ 0.9884, at exactly 5:35 GMT, the lowest level recorded since December 2002, continuing its continuous descending trend since the beginning of the year against the US currency, according to Agence France-Presse.
The eurozone suffers from a significant rise in the level of inflation, which witnessed a significant increase in August, reaching 9.1% on an annual basis, which exacerbates pressures on the European Central Bank, which will raise its interest rates soon.
Inflation in the eurozone, which includes 19 countries, reached 8.9% last July, and these figures are the highest in the history of inflation levels recorded by the European Commission for Statistics (Eurostat) since January 1997.
