Euro/dollar parity exceeds 1.31 in Far East
The Euro, which has risen to 1.3108 dollar in Far East exchange market, reached the highest level since its tenancy in 1999. The news revealing that Russia, which has over $100 billion foreign exchange reserve, is going to buy euro by selling dollar was effective in the euro's record hike. Economists say that the other important reason for euro's hike is the fact that US administration remained indifferent against the depreciation of dollar.