PARIS, Sep 5(ABC): The euro sunk below $0.99 on Monday, a 20-year-low, following the announcement last week that Russia would cut off gas deliveries to Germany via the Nord Stream pipeline.
The euro fell 0.70 percent to 0.9884 dollars Monday at 0535 GMT, its lowest since December 2002.
The European currency has continued to weaken against the dollar since the start of the year, hammered by economic turbulence and uncertainties sparked by Russia’s invasion of Ukraine.
Russian gas giant Gazprom said Friday the Nord Stream pipeline due to reopen at the weekend would remain shut indefinitely.
It said it had discovered “oil leaks” in a turbine during a planned three-day maintenance operation, and that the pipeline would remain closed until it was repaired.
