Following the statements made by European Central Bank’s head Mario Draghi on Friday and the recent media reports on Greece’s possible exit from the euro zone due to the recent political developments, the euro hit a nine-year low on Monday versus the dollar.

Mr. Draghi told German Handelsblatt on Friday that the risk of the central bank not preserving price stability was higher now than half a year ago and this statement has led markets to believe that the ECB will soon begin to purchase state bonds.

As a result, the euro fell by 0.5% to as low as $1.1943 in Tokyo and even reached $1.1864, its weakest level since March 2006.