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Euro strengthens against dollar after EU Greece deal

If you are new to Europe and regret the exchange rate that makes the dollar much weaker, the situation dates back to 2002, when the euro first broke the $1 barrier

Today, you can see growth and decline of the euro against the dollar at this interactive graph on BBC. You can choose viewing for one month, three months, twelve months or intra-day to compare the exchange rate changes.

According to XE, the euro is at 1.34000 USD today. It has also risen against the British pound. That comes after the European Union (EU) came to an agreement to put together a financial aid package for Greece, which is facing a debt crisis. More from the BBC:

The euro has strengthened against the dollar and the pound after eurozone leaders agreed a financial aid package to help debt-laden Greece.The leaders agreed to provide 22bn euros (£20bn) should Greece run into difficulties borrowing money to service its high debt levels. On Friday the euro rose by more than one cent to to $1.3393 before falling back slightly. The euro has weakened in recent weeks because of the Greek debt crisis. Against the pound, the euro rose by two-fifths of a cent to around £0.90.

There have also been concerns about high levels of government borrowing in other eurozone countries, such as Portugal. These forced the euro to a fresh 10-month low against the dollar on Thursday, before the eurozone loan package was agreed….

….The real test, analysts said, would come at the next sale of government bonds. “The Greek debt office will almost certainly have to announce another bond sale in the coming weeks,” said Forex.com’s Jane Foley.
“Not only will this sale be a crucial test for Greece, but it will set the scene as to what happens next in [the eurozone]”….

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