The value of euro has fallen against other currencies in Asian trading amid concerns over European Union's debt crisis.
The European currency was traded at $1.3024 in Tokyo on Thursday, compared with $1.3065 in New York trading on Wednesday. The euro also traded at 102.09 yen in Asian trading against 102.47 yen in New York.
Some experts believe the euro will remain under pressure unless there is further progress on a second bailout and private debt restructuring for the crisis-stricken Greece.
"The market's greatest concern is about what's going to happen on March 20" when Greece’s 14.5 billion euro debt repayment is due, said Sumino Kamei, a senior analyst at the Bank of Tokyo-Mitsubishi UFJ.
Eurozone ministers say Greece must accept tough EU surveillance if it wants to close the stalled bailout deal by next week.
On Wednesday, Greece Finance Minister Evangelos Venizelos said that several eurozone members no longer want Greece in the 17-nation currency bloc due to its debt problem.
The Greek parliament approved a controversial bill that includes a new round of austerity cuts needed to secure the bailout worth 130 billion euros from international loan providers.
However, Greece has lost its credibility by missing targets for deficit reduction, economic reforms and asset sales that were set when it obtained a 110-billion-euro aid package in May 2010.
Greece has the highest debt burden in proportion to the size of its economy in the 17-nation eurozone. Despite major austerity cuts and bailout funds, the country has remained in a recession since 2009.
DB/MB
