As Greece’s debt talks with its international creditors remain at a standstill, the Australian dollar has continued to drop, buying 77.37 US cents shortly before 9:00am (AEST).
Neighbouring New Zealand’s currency was affected little however, buying 69.02 US cents at 8am in Wellington.
Following a recent meeting involving European finance ministers, plans have been announced to meet again over the weekend in a final attempt to reach an agreement.
With a Grexit still a looming possibility, investors are being cautious, as Greece’s departure from the Eurozone could have serious consequences for the rest of Europe and global economy.
While fears of financial turmoil loom, overnight the main global equity markets saw little change.
Local stocks are expected to follow a similar trend with the SPI 200 0.1 per cent lower at 5,556.