FIA switches from US dollar to Euro

Formula One’s governing body, the FIA, has responded to global market forces by adopting the Euro currency instead of the traditional US dollar. With the world’s richest superpower watching its currency tumble, the FIA has decided it was no longer viable to issue penalty fines in dollars and switched to the Euro in time for the season’s opening race in Melbourne, Australia. According to Red Bull, the FIA earned €6,000 Euro alone in speeding fines after penalizing several drivers for speeding in the pitlane. The switch to the European currency meant the FIA earned $8,000 instead of the $4,500 had they issued the fines in dollars. Originally the two currencies had been on a parity but since its inception the dollar has been progressively slipping to a now almost record low.