The euro surged this Monday to over $1.07 as financial markets calmed after UBS’s acquisition of Swiss bank Credit Suisse.
At 18.15 (Lisbon time) the euro traded at $1.0720 and on Friday at $1.0672.
The European Central Bank (ECB) has set the euro base rate at $1.0717.
Speaking before the European Parliament, ECB President Christine Lagarde said the institution was ready to intervene “if necessary” to keep the eurozone financially stable in light of recent “tensions”.
Lagarde reiterated that “the eurozone banking sector is resilient, with strong capital and liquidity.”
The head of the ECB stressed that “in any case, the ECB’s policy toolkit is fully equipped to provide liquidity to the eurozone financial system, if needed, and to maintain a smooth transition of monetary policy.”
Currency…………..Monday…………Friday
Euro/dollar………………….1.0720……………………………. 1.0672
Euro/lb…………0.87354………..0.87556
Euro/Yen……………….140.99………..140.64
Dollar / yen…………131.51…………….131.79
Author: Portuguese
Source: CM Jornal
I’m Dave Martin, and I’m an experienced journalist working in the news industry. As a part of my work, I write for 24 News Reporters, covering mostly sports-related topics. With more than 5 years of experience as a journalist, I have written numerous articles on various topics to provide accurate information to readers.