Euro Climbs Up Fourth Time in a Row as Greece Pledges to Pay IMF

Euro and Greece Pledge

The euro increased against Dollar for fourth consecutive day.  The recent pledge of Greece is the primary reason behind it.

Recently, Greece promises to pay money to the International Monetary fund. The Alternate Finance minister of Greece assures that the country would not delay payments in the future. On 9th April, around 450 million Euros will be given to the organization.

In comparison, US dollar descended for third time in a row after the new report.  A latest report reveals that growth in job has been declined since last year.

Prashant Newnaha, a rates strategist at TD Securities Inc, discussed the current situation of market. He informs that the market is quite siding because of the Greece payment pledge.  The euro is expected to raise more after the payment.

Euro mounted 0.1 percent to $1.0976 in London. The figures are 2.3 percent higher as compared to its previous rate. In comparison, yen was slightly changed to 119.02 per dollar.

Currently, Greece and euro authorities are in talks for a newly proposed package of the government.  The package is meant to fix the current condition of country’s economy.

Dimitris Mardas, Alternate finance minister of Greece, informs that the country most probably pay IMF on the 9th of April.

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