Political uncertainty in Germany brings Euro down

Cavid Əzimov
Post's author

Baku. 20 November. REPORT.AZ/ On the global financial market euro's value was cut off as compared with major currencies.

Report informs it was caused by German Chancellor Angela Merkel’s failed attempts to establish coalition government.

The position of conservatives headed by Merkel has weakened in September elections. Today Angela Merkel informed German President that she failed to establish coalition government. Today, Angela Merkel received negative response from Free Democratic Party on coalition negotiations. It means if Merkel’s party unable to form coalition government new election will be held.

This news decreased the euro from 1.18 USD/EUR to 1,1725 USD/EUR. Currently USD/EUR rate stands at 1,1740. As compared with Japanese yen euro reduced from 133.2 to 131.3.

Analytical Group of Report forecasts that the falling process of euro will continue untill the end of the year. 

Latest news

Turkmenistan proposes to stimulate transit along Middle Corridor through port of Turkmenbashi 27 April, 2024 / 16:34
Azerbaijan permits privatization of satellite communication facilities in geostationary orbits 27 April, 2024 / 15:59
Next graduation ceremony for Marines Commando Basic Courses held 27 April, 2024 / 15:35
Azerbaijan endorses new investment agreement with ACWA Power 27 April, 2024 / 15:24
Mikayil Jabbarov, Samir Sharifov to represent Azerbaijan in Board of Directors of Turkic Investment Fund 27 April, 2024 / 15:05
Value of Azerbaijan’s sheep imports from Georgia plummets 27 April, 2024 / 14:49
Five, including two policemen, injured during brawl in Tavush, Armenia's investigative bodies say 27 April, 2024 / 14:25
Azerbaijan reduces tobacco imports from Türkiye 27 April, 2024 / 14:06
Kremlin supports continuation of contacts between Azerbaijan and Armenia, Peskov says 27 April, 2024 / 14:03
Italian Foreign Ministry to summon Russian Ambassador over decision on assets of Ariston Thermo Group 27 April, 2024 / 13:59
Leaders of Guyana, Suriname and Ecuador invited to COP29 27 April, 2024 / 13:30
ANAMA employee hit by landmine in Shusha 27 April, 2024 / 13:06
Zarifa Aliyeva ferry vessel carries out 332 trips 27 April, 2024 / 12:56
President of Montenegro: ‘Signing of the peace agreement between Azerbaijan and Armenia will contribute to the development of the region’ 27 April, 2024 / 12:44
People evacuated due to bomb threat at Russian Vnukovo airport 27 April, 2024 / 12:41