Baku. 12 May. REPORT.AZ/ One of the largest banks in Germany, Deutsche Bank believes, after the weakening of the US dollar against other leading currencies of the world in recent months, will begin the process of its strengthening. Economists at Deutsche Bank, in particular, say, US dollar to Euro to achieve parity to the end of this year.
Report informs, the Euro rate to US dollar is 1,1160 today. On May 4, 2014 the dollar exchange rate against the euro at the level of 1,3991 USD/EUR began to change in favor of the U.S. currency and to the March 16 of this year was at the lowest level 1,0456 USD/EUR. Then, the dollar weakened by 7%. As a result, the Euro rate strengthened against US dollar and 7 May rate was 1,1392 USD / EUR.
Economists of the Deutsche Bank believe, in the history of US dollar, only one of the 10 most important adjustments was over 10%. The latest 9% adjustment may lead to the end of the period of US dollar's weakening and the beginning of the process of its strengthening.
German experts say, the expectations due to rising interest rates in the US will also lead to increased demand for US dollars.