EURO devalues to historic low

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EURO devalues to historic low

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25 November,2010 03:16 pm

EURO has plunged down to a historic low after the fears of fiscal crisis in Europe whereas bearish Asian markets have transformed into bullish. European currency remained under pressure due to increased interest rates on Spanish debts and protests in Portugal. Value of EURO reached 1.32 dollars in London which is a historic low value. Apprehensions related with affects of Irish fiscal crisis reaching Portugal and Spain are also prevailing. On the other hand German Chancellor Anjela Merkel has termed the fiscal and monetary situation of Europe as serious.