The euro has risen above the dollar for the first time in a long time. This is evidenced, in particular, by the European Central Bank's chart: since the end of August, the euro has gone below the 1:1 mark and almost never returned to it.

The main reason is that October inflation in the USA (the data is published today) was below the forecasted one (7.7% against the forecast of 8%). As a result, the market expects that the peak of inflation has passed and the Federal Reserve (the U.S. financial market regulator) will start to cut interest rates. Then the interest rates on U.S. securities will go down as well and investors will get less profit from them. The U.S. dollar fell by over 2% per day against a basket of the world's major currencies amid these expectations.

In Armenia the euro went up by 13 drams at once (by more than 3%), reaching a mark of 406 drams.