World Economy

€ in Parity With $?

€ in Parity With $?€ in Parity With $?

The euro’s value against the dollar keeps dropping, and it could soon reach parity with the dollar for the first time in 13 years, AP reported. Its dramatic decline could help companies in the 19-country eurozone and even be a boon to US tourists by, for example, making it less expensive to buy a trip to the Italian Riviera. The European single currency has been on the slide since May, when it traded as high as $1.40, while the dollar has been rising across a range of currencies. On Friday, the euro bought $1.0850, the lowest since 2003.