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Central banks 'shunning dollar'
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| Contributor | RP |
| Last Edited | RP Jan 24, 2005 07:28pm |
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| Category | Analysis |
| Media | TV News - British Broadcasting Corporation BBC News |
| News Date | Monday, January 24, 2005 06:00:00 AM UTC0:0 |
| Description | Many of the world's central banks are starting to look to the euro to fill their currency reserves instead of the dollar, a survey suggests.
The poll carried out by Central Banking Publications found 39 nations of the 65 surveyed raising their euro holdings, with 29 cutting back on the US dollar.
The dollar's sharp fall in the face of huge deficits could be one cause of the switch, the report says. |
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