The euro fell to 94.91 yen in early Asia trade, its lowest level since November 2000.
On Friday, Spain's Valencia region requested the central government for financial help from a new rescue fund.
That resulted in Madrid's borrowing costs shooting up to levels regarded as unsustainable in the long run.
Analysts said the developments in Spain had raised fears that the eurozone debt crisis was worsening and spreading to the region's biggest economies.
Yuji Saito, director of foreign exchange at Credit Agricole Bank in Tokyo, said that there was nothing good coming out of Europe "and that keeps the euro under pressure".
Source & Image : BBC
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