Euro rises after approval of the Greek parliament

Euro rises after approval of the Greek parliament

Euro rises with the support of the approval of the Greek parliament on bailout package.

The euro rose on Friday, following the approval of the Greek parliament on a new rescue package and regained currency markets relatively calm after a week that saw a decline of the value of the Chinese yuan, including triggered unrest in the global financial markets.

The euro stood at 1.1185 dollars and tends to bring the largest weekly gains against the US currency since mid-May.

Currency rates and emerging Asian markets continued to decline destined to incur a sharp weekly losses and Malaysian ringgit fell to a new level is the lowest in his 17 years.

People’s Bank of China (central), confirmed today, the mid-point of the yuan at 6.3990 yuan to the dollar, slightly higher than Thursday’s levels.

Earlier, the government of Greek Prime Minister Alexis Tsipras got enough votes to win parliamentary approval on the rescue package, thanks to their access to support the opposition.

It came hours of the meeting of finance ministers of the euro area is expected to approve before the rescue program and pave the way for the provision of aid to Athens before the date of repayment of debt solutions in the next week.

The news was received after the publication of disappointing data for the hopes of the French and German economic growth in the second quarter of the year as growth has led to the euro area economy by 0.3 percent on a quarterly basis, compared with a forecast growth rate of 0.4 percent.

Euro gains and led to the descent of the dollar index, which tracks the US currency’s performance against a basket of major currencies 0.3 percent to 96.119. The dollar lost 0.3 percent of its value against the yen, reaching 124.11 yen.