this post was submitted on 04 Oct 2023
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Data from SWIFT shows that the use of the euro has collapsed in the past nine months. (www.bloomberg.com)
submitted 2 years ago* (last edited 2 years ago) by [email protected] to c/[email protected]
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The share of euro transactions dropped from 38% in January to 23.2% at the end of August, which is the lowest level recorded in, at least, twelve years. The euro has given up all the gains it made against the dollar from December 2022 to July 2023. Since mid-July, the common currency has lost nearly 8% against the dollar.

The sanctions are working exactly as intended.

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