Russian Prime Minister Vladimir Putin said Friday he was confident in the euro despite Europe's debt crisis and said his country might even join the currency block itself one day.
Putin also sharply criticized the dollar's dominance as a world reserve currency.
Despite the problems in some heavily indebted eurozone countries, the euro has proven itself "a stable world currency," Putin said.
"We have to get away from the overwhelming dollar monopoly. It makes the world economy vulnerable," he told a gathering of business leaders in Berlin through a translator.
The 16-nation common currency slipped below $1.32 in afternoon European trading due to worries the debt crisis could spread from Ireland to Portugal and Spain.
Putin said he was confident the euro would outlast the challenges brought by the sovereign debt crisis, and he praised the efforts of the European Central Bank and the eurozone member states to preserve the currency.
Asked about the possibility of Russia one day adopting the euro as a currency, Putin did not rule it out.
"The rapprochement of Russia and Europe is inevitable," he said.
Speaking later at a joint press conference with German Chancellor Angela Merkel, Putin said a monetary union first requires closer economic cooperation, but he again did not rule out having Russia adopt the euro as its currency.
Merkel called that a "vision for the future," and stressed the need for close economic cooperation as a first step.
"But the closer our economies are linked, the easier and the more interesting it will be to adjust also the currency policy," Merkel said.
In his call to reduce the dollar's dominance in the world economy, Putin noted an agreement Russia signed this week with China to use their respective currencies, the ruble and yuan, for bilateral trade in the future.
Deutsche Bank AG's chief executive Josef Ackermann agreed, "I think it is completely accurate that we have to reduce the currency system's dependence from one dominant currency such as the dollar."
Ackermann said that, once Europe has done its homework following the current crisis, an inclusion of Russia in the bloc's currency zone would be "in Europe's own interest" if an enlargement takes place.
As worries lingered over the sovereign debt of Ireland, Portugal and Spain, however, the euro continued its slide against the dollar Friday.
After hitting $1.3199, it rose slightly to $1.3242 in late European trading, still below the $1.3290 of the day before. The British pound slipped to $1.5613 from $1.5752 on Thursday, while the dollar rose to purchase 84.06 Japanese yen from 83.63 the day before.
Ireland asked Sunday for a massive loan from the European Union and the International Monetary Fund, as Greece did in May. Investors are worried that other countries, chiefly Spain and Portugal, will also have to seek aid as their borrowing costs soar.
Markets were also jittery after North Korea warned that U.S.-South Korean plans for military maneuvers put the peninsula on the brink of war.