Exchange Rate in Greece
Greece - Exchange Rate
After a stronger-than-expected first quarter GDP figure, the economy is expected to have grown for a second consecutive period in Q2, although at a weak pace. Industrial production picked up in May and the manufacturing PMI returned to expansionary territory in June for the first time since August 2016. In addition, the tourism industry—the economy’s lifejacket throughout the crisis—performed strongly in April. Moreover, the country received EUR 8.5 billion in funds from its creditors in July, avoiding a summer showdown over reform requirements and ensuring that the government will be able to fulfill short-term debt commitments. As the economic picture becomes slightly more stable, the country received another piece of good news in recent weeks. The European Commission recommended that the European Council should end the country’s excessive deficit procedure in July, removing special oversight over the government’s spending. The move highlights improving government finances, after the country recorded a fiscal surplus in 2016. Meanwhile, the country returned to international financial markets after a three-year absence on 25 July selling a five-year bond, an important step for the government towards gaining financial independenceGreece - Exchange Rate Data
| 2012 | 2013 | 2014 | 2015 | 2016 | |
|---|---|---|---|---|---|
| Exchange Rate (vs USD) | 1.32 | 1.38 | 1.21 | - | - |
Greece Exchange Rate Chart
Source: Thomson Reuters.
Greece Facts
| Value | Change | Date | |
|---|---|---|---|
| Bond Yield | 5.44 | 0.03 % | Aug 16 |
| Exchange Rate | 1.17 | -0.12 % | Aug 16 |
| Stock Market | 842 | 1.77 % | Aug 16 |
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Economic News
Greece: Unemployment rate inches down in May
August 10, 2017
The number of unemployed fell by 5,490 in May compared with a decrease of 13,000 in April, according to the Hellenic Statistical Authority (EL.STAT). The unemployment rate inched down from April’s revised 21.8% (previously reported: 21.7%) to 21.7%, a multi-year low.
Greece: Industrial production growth moderates in June
August 8, 2017
Industrial production expanded a working-day-adjusted 1.6% in June compared to the same month of last year, which was significantly below May’s revised 6.3% growth (previously reported: +5.4% year-on-year).
Greece: PMI steady in July
August 2, 2017
The IHS Markit manufacturing Purchasing Managers’ Index (PMI) was table in July, resting at June’s nearly one year high of 50.5.
Greece: Industrial production growth accelerates in May
July 10, 2017
Industrial production expanded a strong working-day adjusted 5.4% in May compared to the same month of last year, which was notably above April’s revised 0.8% growth (previously reported: +1.0% year-on-year).
Greece: Unemployment rate falls in April
July 7, 2017
The number of unemployed fell by 12,900 in April, according to the Hellenic Statistical Authority (EL.STAT.).
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