At 6:02 PM (Lisbon time), the euro was trading at $1.1604, compared to $1.1524 at the same time on Friday.
The euro also strengthened against the pound and the yen.
The European Central Bank (ECB) set the euro’s reference exchange rate at $1.1614.
During today’s session, the euro fluctuated between $1.1594 and $1.1622.
The ECB considers it impossible to meet the European Commission’s (EC) proposal to support a loan of 140 billion euros for Ukraine, guaranteed by Russian assets frozen since 2022.
“Such a proposal is not being considered because it would likely violate the European Union (EU) legal treaties prohibiting monetary financing,” an ECB spokesperson told EFE today.
The Russian central bank’s assets are frozen at Euroclear, the Brussels-based financial custody infrastructure.
The EC’s plan to finance Ukraine over the next two years calls for European states to provide state guarantees to ensure the 140 billion euro loan’s repayment risk is shared.
Currencies………………Today……………….Friday
Euro/Dollar……………1.1607…………………1.1524
Euro/Pound……………0.87989………………..0.87744
Euro/Yen………………180.99………………….177.56
Dollar/Yen……………155.92………………….154.08
