The euro marked its lowest level since September 2003 to settle below $1.11 in currency trade markets on Wednesday, just one day ahead of a meeting by the European Central Bank governing board in the Cyprus capital Nicosia.
During the Thursday meeting, ECB President Mario Draghi is supposedly set to reveal details about the trillion-euro quantitative easing program slated for later this month.
The new program aims to revive the EU economy by the quantitative easing, a policy implemented by a central bank through buying specified amounts of financial assets from commercial banks and other private institutions to raise the prices of those financial assets and lowering their yield.
Draghi had announced in January 2015 that the ECB plans to buy €60 billion ($66.5 billion) worth of private and public bonds each month as of the beginning of March until September 2016.
Read more: PressTV-Euro drops to record-low vs dollar
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