What will happen to euro in July?

Loss in value of the euro in July may continue because of the escalating crisis in the Eurozone. This was told by an expert of the analytical department of the company Weltrade Sergey Boriychuk.

The exchange rate of the European currency in the international market during this period, according to the broadcasts of Weltrade’s experts, will fluctuate between 1,2600 and 1,2300. In Ukraine it will stay within 10.00-10.40 gryvnya / euro.

 "In July the euro will continue staying in global downward trend as the background of the deepening crisis of the banking sector in Europe, particularly Spain. Alertness of the investors is caused by the state of the economy in Italy and the fact that Cyprus has requested financial assistance. At the same time, the main reason for value loss of the euro in Ukraine will disappear with the end of Euro 2012 and Euro-currency inflow into the domestic banking system will stabilize", - said Sergey Boriychuk.

In case significant negative news from the Eurozone appears in the market, even worse reduction of value of the euro may happen - up to the level of 1.2100.

The exchange rate of European currency in the ratio with the U.S. dollar in the international market from June 1 to June 27 has steadied at 1.12% to 1.2499, in the ratio with the hryvnia - at 1.17% to 10.08 UAH.

ubr