US-dollar hits 14-year high against Euro

Baku. 15 December. REPORT.AZ/ Euro exchange rate on markets declined to 1.0413 USD, which is lowest rate in 14 years.

Report informs, Federal Reserves System's (Fed) decision to raise interest rate by 0.25 and pre-announcement of three-step increase during next year boosted US-dollar against basket of currencies. Thus, Euro exchange rate against US-dollar slump from yesterday’s 1.0670 USD to 1.0413 USD.

Report’s expert group believes, further rise of US-dollar rate until establishment of parity with Euro in a short period: “In the long term we expect US-dollar to become stronger than Euro hitting 0.85 USD/EUR rate”.

Notably Fed is expected to raise interest rate to 4%.