Euro drops against US Dollar to its 1999 start rate
by Daily Sabah
ISTANBULJan 14, 2015 - 12:00 am GMT+3
by Daily Sabah
Jan 14, 2015 12:00 am
The euro continues to lose its value against the US Dollar following a decrease in the rate to below the 1.1747 level which it had when it was first initiated in 1999.
The rate dropped to as low as 1.1726 on Monday. The lowest rate was realized in 2000 at 0.82.
The European Court of Justice decided on Monday that the European Central Bank's (ECB) large-scale government bonds buying program is in compliance with European Union legislation, with the condition that it should acknowledge its reasons before applying to such extraordinary measures.
This decision would enable ECB to conduct a tight monetary policy and monetary expansion policy.
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