The exchange rate of the euro to the dollar dropped to $1.29 at an Italian auction of securities on Wednesday, another record low level, RIA Novosti reports.
The euro price dropped from $1.3037 a day earlier to $1,2982. The dollar price increased to 78.08 yens from 78 yens. Italian authorities issued 5-year bonds worth 3 billion euros. Income from 10-year bonds increased to 7.19%, compared with 6.328% on Tuesday.
Irish Finances Minister Michael Nunan said that the state may have a referendum on membership in the euro zone in spring 2012. The International Monetary Fund (IMF) approved a issuing Ireland 3.9 billion euros within the framework of a trenche of 8.5 billion euros.
Ireland, Greece and Portugal receive support from the EU and the IMF. The unclear situation in Europe is the main propulsion on the market, Director of Wells Fargo Private Bank, George Rusnak, said. He added that they see no changes in the near future.
