©Reuters. Euro falls on Ukraine war concern
Frankfurt (Germany), March 21 (.).- The euro has depreciated this Monday due to concerns about the war in Ukraine, while production prices in Germany soar.
The euro was trading at $1.1045 around 4pm GMT, versus $1.1066 in late European forex trading the previous day.
The European Central Bank (ECB) today set the reference exchange rate for the euro at 1.1038 dollars.
Russia’s attacks on Ukraine have intensified and Russia demands a rapprochement of the positions in the negotiations before the Russian president, Vladimir Putin, and the Ukrainian, Volodímir Zelenski, meet.
Producer prices in Germany grew by 25.9 percent in February compared to the same month of the previous year, which represents a record figure, largely driven by rising energy costs, but this rebound may be in actually higher, since the calculations do not yet include the repercussions of the war in Ukraine.
The president of the ECB, Christine Lagarde, predicts that the euro area will grow despite the war in Ukraine, which will make energy more expensive.
The single currency was traded in a trading band between $1.1026 and $1.1070.
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