Skip to main content
Advertising

Originally published Monday, March 25, 2013 at 9:55 AM

  • Share:
             
  • Comments (0)
  • Print

Euro falls to 4-month low against dollar

Currency traders aren't convinced that a bailout for Cyprus will fix its financial problems or Europe's debt crisis, pushing the euro to a four-month low against the dollar Monday.

The Associated Press

Most Popular Comments
Hide / Show comments
No comments have been posted to this article.
Start the conversation >

advertising

NEW YORK —

Currency traders aren't convinced that a bailout for Cyprus will fix its financial problems or Europe's debt crisis, pushing the euro to a four-month low against the dollar Monday.

The euro fell to $1.2851 in late trading from $1.2983 late Friday. Earlier the euro fell to $1.2828, its lowest point against the dollar since Nov. 21.

On Sunday The European Commission, the European Central Bank and the International Monetary Fund approved a $13 billion bailout for Cyprus. As part of the deal, Cyprus will take money from its wealthiest depositors and restructure its banking sector.

Investors will be watching to see if Cypriots start withdrawing their money Tuesday, when banks are expected to open for the first time in over a week. They were closed to avoid a run on banks, after a rejected bailout plan called for taking up to 10 percent of most savings deposits. The plan approved this weekend seizes funds only from depositors with over 100,000 euros in their accounts.

In other currency trading Monday, the British pound fell to $1.5175 from $1.5228.

The dollar rose to 0.9484 Swiss franc from 0.9411 Swiss franc.

The dollar fell to 94.16 Japanese yen from 94.45 Japanese yen and to 1.0211 Canadian dollar from 1.0227 Canadian dollar.

News where, when and how you want it

Email Icon


Advertising
The Seattle Times

The door is closed, but it's not locked.

Take a minute to subscribe and continue to enjoy The Seattle Times for as little as 99 cents a week.

Subscription options ►

Already a subscriber?

We've got good news for you. Unlimited seattletimes.com content access is included with most subscriptions.

Subscriber login ►