Euro/dollar rate breaks through psychological threshold

Baku. 13 October. REPORT.AZ/ Dollar exchange rate against the euro fell below the critical level of 1,10 USD/EUR.

Report informs, dollar strengthened against the backdrop of yesterday's statement by the US Federal Reserve (FED) on a possible increase in the key rate in the near future.Growth of interest rates is possible by the end of the year due to the strengthening of the labor market in the US and a prolonged inflation.This news led to a strengthening of the dollar on the global foreign exchange market. As a result, exchange rate fell below the critical level of 1,10 USD/EUR.

The dollar also appreciated against the British pound, the Russian ruble, Turkish lira and Chinese yuan, amounting to 1,2160 USD/GBP, 63,40 RUB/USD, 3,11 TRY/USD and 6,73 CNY/USD respectively.

Analytical Group of Report News Agency forecasts gradual strengthening of the dollar, the depreciation of the main currency pairs dollar/euro to 1.08 and to achieve parity by the end of the year.Oil quotes will drop to 40-45 USD/barrel, the price of gold - up to 1150 USD/ounce.

Notably, the USD/EUR exchange rate is 1.0990 now.