© Reuters. The euro exceeds 1.06 dollars after the rise in ECB interest rates
Frankfurt (Germany), March 16 (.).- The euro rose today and exceeded $1.06 after the European Central Bank (ECB) decided to raise its interest rates by half a percentage point, to 3.50% , and its president, Christine Lagarde, warned that the tensions in the markets could weigh down growth.
The euro was trading around 4:20 p.m. GMT at $1.0624, compared to $1.0521 in the final hours of European currency market trading the previous day.
The European Central Bank (ECB) set the reference exchange rate for the euro at $1.0595.
After having fallen sharply on Wednesday due to fears of a banking crisis in Europe due to the problems of the Swiss credit (SIX:), the euro and stock markets have calmed down after the Swiss National Bank guaranteed credit to this bank.
Lagarde said on Thursday that the next decisions on interest rates will depend on economic and financial data because uncertainty has increased due to the tensions in the financial markets, but she considers that they still have a way to go in the fight against inflation.
The single currency was exchanged in a fluctuation band between 1.0554 and 1.0634 dollars.