Euro drops to 20-year low, approaches parity with dollar

NEW YORK, July 11 (Reuters) - The euro slid to a 20-year low and came closer to parity against the dollar on Monday on concerns that an energy crisis will tip the region into a recession, while the U.S. currency was boosted by expectations that the Federal Reserve will hike rates faster and further than peers.

The biggest single pipeline carrying Russian gas to Germany, the Nord Stream 1 pipeline, began annual maintenance on Monday, with flows expected to stop for 10 days. Governments, markets and companies are worried the shutdown might be extended because of the war in Ukraine.

Source: https://www.reuters.com/markets/us/safe-haven-dollar-stands-tall-inflation-energy-jitters-2022-07-11/

US and EU be dropping sanctions on Russia, but na dem come dey feel the impact of the sanctions pass

While it drops, the Naira still remains value less in the common Nigeria market

They'll still blame the war in Ukraine, meanwhile the signs of a global recession have been there for some time now

incandescentena:
While it drops, the Naira still remains value less in the common Nigeria market

It's not only Naira that is falling.
Naira can now give reasons for its downfall
Over to Buhari...
'Other equonomies are dropping... ' (in his voice)

Economic woes everywhere...

They should end this war abeg. It's no longer funny.
The effects are far reaching from USA to Europe to Africa to Asia... global recession is looming

Impact of Russian sanction