Irish consumers have dramatically shifted away from cash payments, with physical currency now accounting for only one in eight euros spent across the country, according to new Bank of Ireland data. The figures represent a “stark” transformation from pre-Covid times, when cash made up one third of all transactions. This digital payment revolution continues to … Read more
The euro briefly fell back below parity with the dollar today after the European Central Bank (ECB) raised interest rates, and US data showed that the world’s biggest economy rebounded more than expected in the third quarter. The ECB raised its deposit rate by 0.75% to 1.5%, the highest since 2009, in an effort to … Read more
For the first time in 20 years, the euro has fallen below the dollar as the war in Ukraine pushes the single currency down. The euro down about 12% since the start of the year. Fears of the recession on the continent abound, stoked by high inflation and energy supply uncertainty caused by Russia’s invasion … Read more
The European Central Bank (ECB) is considering a design change for Euro notes. According to a report by the Journal, a final decision on the new look is expected in 2024. The Euro currencies was introduced in cash back in 2002 and currently used in 19 member states. “After 20 years, it’s time to review … Read more