The common currency of the European Union pushed ahead on Tuesday against the Japanese yen, prompted higher by intentions to financially support Greece as it aims to remit financial obligations due next month, according to Bloomberg.
One day after European Union finance ministers agreed to devote 3 billion euros to the Aegean nation, the officials gathered in Brussels to fine-tune support for the country. Reuters reports Eurosystem central banks will give Greece 1.5 billion euros this month and 500 million euros in October. The International Monetary Fund is set to contribute 1.8 billion euros to the Aegean nation next month.
"That's the way it will be done," one official told Reuters on Tuesday.
The euro's advance against the monetary unit of the Pacific Rim nation pushed as high as 0.3 percent on Tuesday. This year's high for the euro against the yen was on May 22.
Greece, which has been on the receiving end of financial support for the past three years due to the sovereign debt crisis, is aiming to avoid defaulting on financial obligations that are coming due next month, Reuters reports.
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