EURO PLUMMETS

Euro Plummets

EURO PLUMMETS

By Miles B. Sampa, MP

For the first time in history today the Euro and US Dollar became 1:1

The Euro has always been stronger last 20 years ranging from 1.7 to 1.3 per Dollar.
Reasons for the weak Euro:

  1. Russsia-Ukraine War
  2. Refer to 1 above

Zambia has significant imports from Europe which will now become in cheaper.

Also its partly why the Kwacha has gained to about 16 to the USD and about 1 to 1 with the SA Rand that is heavily linked to the EURO that purchases most of SA Gold and Diamond.

MBS12.07.2022
(former currency & financial markets analyst)

Source – Zambianobserver.com