Terrorist attacks in Paris will lead to Euro's decline

Baku. 14 November. REPORT.AZ/ Terrorist attacks in Paris will have a negative impact on the euro next week.

Report informs, the main reason for the fall of euro will be a reduction in income of tourism sector as a result of security problems in Eurozone.

France is a country most visited by tourists. In 2014 the country was visited by 83.7 million tourists. Revenues of the tourism sector in the amount of 150 bln. euros last year, which accounted for 7% of GDP. However, border closures and severe security measures after a terrorist event occurred will cause significant damage to the tourism sector and will have a negative impact on GDP growth. Such a development process would deprive the second largest revenue eurozone economy, already in a difficult economic situation.

Research Group of Report News Agency finds that the euro on Monday, November 16 will weaken against other currencies. Depreciation of the USD/EUR to the level of 1,05-1,06 is expected.

Weakening of the euro will affect the rate of manat. Although major changes are not expected, but the rate of AZN/USD is forecasted at 1,0508, AZN/EUR at 1,11.