The euro has hit a new 18-month low against the dollar.
The markets have also slumped amid fresh concerns about the eurozone crisis.
The ISEQ index was down 3.1% in afternoon trade, with bank shares again among the big losers.
London's FTSE was down 2.6% , while the markets in Spain, Italy, Germany and France also suffered heavy losses.
Meanwhile amid all the uncertainty the price of gold hit a new high.