Expatica news

Euro soars to record high

28 November 2003

FRANKFURT – The euro smashed through the key 1.20 dollars mark Friday to reach an all-time high for currency, which was launched at the beginning of 1999.

The single currency climbed to 1.2015 dollars before falling slightly to 1.2002 early afternoon.

Traders said the euro’s rise was mainly due to the continuing weakness of the dollar amid thin trading.

Its European Central Bank reference rate Thursday was 1.1902 dollars.

Traders said the euro, which went into circulation at the beginning of 2002, had been unaffected by the European Union row over the stability pact or recent upbeat US economic data.

Subject: German news