Euro tumbles to 1.27 dollars
Friday, 7 May 2010
LONDON, May 6 (AFP): The euro dived to the lowest level for more than one year today as deadly protests in debt-plagued Greece cast a shadow over the future of the eurozone and the single currency.
At about 0700 GMT, the shared European unit hit 1.2737 dollars-a level last seen on March 12, 2009.
"Due to the violent escalation of the protests in Greece the euro is getting under further pressure," said a Commerzbank analyst.
Demonstrators took to the streets in Athens after the nation agreed to severe austerity measures to win an EU-IMF debt rescue package totalling 110 billion euros.
At about 0700 GMT, the shared European unit hit 1.2737 dollars-a level last seen on March 12, 2009.
"Due to the violent escalation of the protests in Greece the euro is getting under further pressure," said a Commerzbank analyst.
Demonstrators took to the streets in Athens after the nation agreed to severe austerity measures to win an EU-IMF debt rescue package totalling 110 billion euros.