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 am Michael Melvin, an experienced news writer with a passion for uncovering stories and bringing them to the public. I have been working in the news industry for over five years now, and my work has been published on multiple websites. As an author at 24 News Reporters, I cover world section of current events stories that are both informative and captivating to read.