Video analysis | The impact of the war on the euro and the dollar

The outbreak of the war in Ukraine, caused by the invasion of the Russian leader, Vladimir Putin, has had strong economic consequences since its outbreak.

Some expected, others not so much.

Both the imposition of sanctions on the Kremlin by the United States, the European Union and the United Kingdom, as well as the partial expulsion of Russia from the SWIFT international payment system or the closure of airspace to the country's airlines, have shaken the Russian economy. , whose currency - the ruble - has collapsed.

But the effects of these measures are not only perceived in the market and the local currency: they have repercussions in the rest of the economies and currencies.

In the video that accompanies this news, Álvaro Sánchez, editor of the Economy section of EL PAÍS, studies the impact that the war between Russia and Ukraine is having on the duel between the euro and the dollar, a matter of enormous importance.

The current value correlation between the two currencies—almost a one-to-one equivalence—has not occurred for 15 months.

Why is this happening now?

To answer this question, Sánchez first analyzes the characteristics of the dollar, whose attractiveness in times of instability like the current one is more similar to values ​​such as gold or other currencies, such as the Japanese yen or the Swiss franc, than to that of the euro. .

The role of the European Central Bank and its times of action is also key to determining the different expectations that are generated around one currency and another.

This has different effects on both imports and exports, with different beneficiaries depending on the subject matter.

Some of them, such as the increase in the price of oil and gas, have already reached the pockets of citizens.

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