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The European currency has lost 11% of its value since the start of 2022 against the dollar. What are the advantages and disadvantages of this weak euro?
Since the beginning of 2022, the value of the European currency has lost 11% against the American currency, and will soon be at the same level as the dollar. Good or bad news for the economy? Partly bad, because imports are now more expensive. Jeans displayed at 100 dollars EUnited States is worth 98 euros, Thursday July 7, against 88 euros in January. Clothing, electronic devices or even energy will now cost more.
However, other sectors will be winners. Tourism companies, in particular, are doing well. With a weak euro, the purchasing power of Americans is increasing in France. “I was able to buy more euros before leaving the United States, so I will be able to buy more souvenirs”, confides an American tourist met during the day in Paris. Other sectors, such as aeronautics, chemicals or the food industry, also benefit from it. According to the stock markets, the currency could fall even further.
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