Cyprus Fears Push Euro Lower Against Dollar

NEW YORK (AP) -- The euro is falling against the dollar as investors await a vote in Cyprus on its highly unpopular bailout plan.

The euro fell to $1.29 in midday trading from $1.2948 late Monday.

Part of the plan is to take up to 10 percent of people's saving from banks in the small Mediterranean island nation. Investors are worried that savers will start taking their money out of banks across Europe, just like Cyprus residents did over the weekend when the plan was revealed.

A vote in favor of raiding a portion of bank accounts is needed in order for Cyprus to get $12.9 billion in rescue loans.

The British pound rose to $1.5123 from $1.5099.

The dollar fell to 94.88 Japanese yen from 95.42 Japanese yen.

Read/Post Comments (0) | Recommend This Article (0)

Comments from our Foolish Readers

Help us keep this a respectfully Foolish area! This is a place for our readers to discuss, debate, and learn more about the Foolish investing topic you read about above. Help us keep it clean and safe. If you believe a comment is abusive or otherwise violates our Fool's Rules, please report it via the Report this Comment Report this Comment icon found on every comment.

Be the first one to comment on this article.

Compare Brokers

Fool Disclosure

Sponsored Links

Leaked: Apple's Next Smart Device
(Warning, it may shock you)
The secret is out... experts are predicting 458 million of these types of devices will be sold per year. 1 hyper-growth company stands to rake in maximum profit - and it's NOT Apple. Show me Apple's new smart gizmo!

DocumentId: 2320773, ~/Articles/ArticleHandler.aspx, 9/25/2016 2:03:50 AM

Report This Comment

Use this area to report a comment that you believe is in violation of the community guidelines. Our team will review the entry and take any appropriate action.

Sending report...

Today's Market

updated 1 day ago Sponsored by:
DOW 18,261.45 -131.01 -0.71%
S&P 500 2,164.69 -12.49 -0.57%
NASD 5,305.75 -33.78 -0.63%

Create My Watchlist

Go to My Watchlist

You don't seem to be following any stocks yet!

Better investing starts with a watchlist. Now you can create a personalized watchlist and get immediate access to the personalized information you need to make successful investing decisions.

Data delayed up to 5 minutes