For the first
time in almost two decades, one U.S. dollar is equal to one euro. After
nearly 20 years of the euro being superior to the dollar, both currencies
reached parity on Tuesday, July 12.
As at Tuesday, 1 EUR equals 1 USD. The shift means European companies and
consumers will pay more for the goods and services they import, while European
exports become immediately cheaper in international markets.
The euro has
experienced a dramatic loss of value since early February when it was worth
over $1.13.