The euro has fallen to a four-year low against the US dollar in currency markets, amidst an on-going debt crisis across Europe.
The Eurozone's currency plunged to a rate of USD 1.2243 dollars per euro in Tokyo trade on Monday, compared to the USD 1.2358 in New York on Friday.
This is euro's lowest exchange rate since April 2006.
Analysts say the drop is triggered by concerns that severe fiscal austerity in the Eurozone will crush growth.
The EU and the International Monetary Fund (IMF) have recently agreed on an almost one-trillion-dollar rescue package designed to prop up European economies struggling with large debts.
They have also been seeking tougher belt-tightening measures from more fragile European economies such as Spain, Portugal and Italy to prevent them from sliding into debt crises similar to that of Greece.
The move, however, has so far failed to reassure investors, resulting in stocks to follow euro's decline.
This has raised fears that the Greek debt crisis could hit the world's financial system in the same manner the collapse of Lehman Brothers bank did two years ago.
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