©Reuters. The euro remains stable around 1.1 dollars
Berlin, March 23 (.).- The euro rose this Thursday by 0.08% to 1.1 dollars, one month after the start of the Russian invasion of Ukraine.
The euro was trading at $1.1 as of 4:00 p.m. GMT, versus $1.0991 in late European forex trading the previous day.
The European Central Bank (ECB) set the reference exchange rate for the euro at 1.0978 dollars.
The community currency had fallen during the first hours of European trading, before the preliminary data of the Purchasing Managers’ Index (PMI) of manufacturing for the Eurozone was published.
These showed a somewhat smaller decline than expected, from 58.2 in February to 57 in March.
The services PMI fell from 55.5 last month to 54.8, showing that the war in Ukraine is slowing down the post-pandemic recovery.
The euro was traded in a fluctuation band between 1.0966 and 1.1014.
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