For the first time in 20 years, the value of the US dollar and the euro are equal.

As Europe struggles with escalating recession worries and the effects of Russia's war in Ukraine, the value of the U.S. dollar is equal to that of the euro for the first time in 20 years.

According to some experts, the euro matching or falling below the dollar marks a psychological milestone

A single from the album conjures his grandmother's poetry, which he remembers from childhood trips traveling through Texas with her.

According to Bloomberg, the two currencies reached parity on Wednesday morning when the euro rapidly declined in value as a result of alarming U.S. inflation figures.

According to analysts, the declining value of the euro is a reflection of investors' increased risk aversion as they pump money into the dollar

The U.S. Bureau of Labor Statistics' news on Wednesday morning that U.S. prices increased by 9.1% in June compared to a year earlier sent shockwaves through the currency markets.

The ongoing conflict in Ukraine has caused the single currency of 19 E.U. members to weaken, which has shocked the world's food and energy markets.

For Americans considering a trip to Europe or shopping abroad, the higher dollar is excellent news. For those whose salaries are in euros, 

The Economist Intelligence Unit reduced its projection for 2022 Eurozone growth from 4% to 2% when the conflict in Ukraine broke out.