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Foreign exchange market: Several currencies retreat and bitcoin jumps

01/03/2022
Categories: Economy/Forex

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The end of February was marked by a plummeting of the euro and other European currencies due to the invasion of Ukraine. For its part, the leader in crypto-currencies recorded leaps this Monday, February 28, 2022.

The euro fell sharply against the dollar on Monday and other European currencies were also weighed down by Russia's invasion of Ukraine. Around 5:25 p.m. GMT (6:25 p.m. in Paris), the euro lost 0.52% to 1.1210 dollars for one euro. Other European currencies suffered Monday against the greenback: the Swedish krona yielded 0.78% to 9.4564 crowns.

In Eastern Europe, the Polish zloty lost 1.71% to 4.19 zlotys per dollar and the Hungarian forint 2.18% to 331.33 forints per dollar. Against the euro, the forint even reached its historic low at 372.61 forints. The Russian currency, meanwhile, plummeted after Western sanctions over the weekend. The ruble fell 20.87% to 105.84 rubles to the dollar and 20.46% against the euro to 118.65 rubles to the euro. Against these two currencies, the Russian currency hit historic lows at the start of the session, at 117.93 rubles per dollar and 132.88 rubles per euro.

For its part, the bitcoin started again after losses over the weekend (40,920 dollars, +9.3% compared to Sunday and +4.9% compared to Friday).

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