July 12 (UPI) -- The euro and the U.S. dollar reached parity on world currency markets for first time in 20 years on Tuesday, driven by European recession worries and Russia's invasion of Ukraine.
The euro fell to $1.0003 mid-Tuesday morning, trading on par with the U.S. dollar for the first time since November 2002, when it was worth 99 U.S. cents. The euro later rebounded a bit to $1.0007.