Euro falls after Cyprus gets bailout

AP News
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Posted: Mar 25, 2013 12:54 PM

NEW YORK (AP) — The euro is falling against the dollar following the $13 billion bailout plan for Cyprus.

The euro fell to $1.2866 in afternoon trading, from $1.2983 late Friday, after rallying earlier in the day on the bailout plan.

As part of the deal made with the European Commission, the European Central Bank and the International Monetary Fund, Cyprus will take money from its wealthiest depositors and restructure its banking sector.

In other currency trading, the British pound fell to $1.5180 from $1.5228.

The dollar rose to 0.9484 Swiss franc from 0.9411 Swiss franc.

The dollar fell to 93.94 Japanese yen from 94.45 Japanese yen.