2011 was the most dramatic year for the euro in the decade since the single currency was launched.

Countries such as Ireland and Greece had to be bailed out after the cost of their debt soared as the euro zone debt crisis engulfed the region. Italy and Spain—the region’s third- and fourth-largest economies, respectively—looked in danger of needing to seek a bailout.

There has even been speculation that the currency itself will not survive this crisis, which would have been almost unthinkable a year earlier.

While it seems secure for now, experts predict that the value of the euro [ EUR=X 1.2719  -0.0011 (-0.09%) ] is likely to fall against the dollar next year.

“The problems with the euro will express themselves most clearly against the dollar,” Simon Derrick, chief currency strategist, BNY Mellon, told CNBC.com. “I thought we would bottom out towards the end of this year, but that looks optimistic now.”

He believes the euro will finish 2012 in the low 1.20 range against the dollar.

The euro, which closed 2010 at 1.3385 against the dollar, has ranged between 1.2950 and 1.4247 this year. It looks set to close down slightly on the year despite market turbulence throughout 2011.

Click here to access a chart showing the annual movements of the euro against the dollar.

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