Inflation around the world is causing drastic changes in the value of many currencies. In some cases this has leveled the playing field between currencies that use to be worth more or less than their counterparts. Most notably the value of euro in comparison to the US Dollar is going viral.
Why Does 1 Euro Equal 1 US Dollar For the First Time Since 2002?
For the past 20 years the Euro has been seen as currency more stable and valuable than the US dollar. The euro has always been at least a few cents more than the US Dollar. For example in 2015 one euro was worth $1.12, and even as recently as 5 days ago it was still worth 2 cents more.
However, due to inflation and other political issues the Euro losing it’s value fast, which led to the historic moment today when 1 euro was worth 1 US dollar for the first time since 2002.
The amount of like this tweet has puts in perspective how amazing the fall of the Euro’s value to even the playing field with the US Dollar really is around the world.
The value of one euro equaling one dollar is a bit alarming, because in this same time span the value of the US dollar has also decreased. That puts in perspective how fast the value of the euro is falling, and could potentially mean it might be worth less than the US dollar in the near future. For people living in Europe this could mean prices of everyday goods might get a bit more expensive.
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