The euro was dropping against the dollar after early results of the Greece bailout referendum suggested the country rejected fresh austerity demands from EU-IMF creditors.
One euro was worth $1.0987 at 1915 GMT, down 1.20% from Friday night, in electronic trading before Asian markets opened.
Earlier on Sunday, the euro had fallen to 1.0963 dollar, with about 50% of votes counted in the Greek bailout vote.
The early official results showed that more than 61% of Greeks had voted ‘No’ to creditor demands for further austerity in return for a bailout.
A failure to reach a deal with the creditors could trigger a Greek exit from the eurozone, and after the ballot, Greece’s government said it would step up efforts to reach a bailout agreement with creditors.
“The initiatives will intensify from Sunday onward so that there can be a deal,” government spokesman Gabriel Sakellaridis said on Greek television.
(With inputs from AP)
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