Getbig.com: American Bodybuilding, Fitness and Figure
Getbig Main Boards => Politics and Political Issues Board => Topic started by: Bindare_Dundat on May 21, 2009, 08:10:36 AM
-
About 47.5 percent of the currency assets of the Russian Central Bank were based on the euro, whereas the dollar-based assets made up 41.5 percent as of the beginning of the current year. The article says there could be some circumstancial explanation for this, but to me, altogether with the rest of the news, it seems like the dollar dumping is gaining speed.
http://www.marketoracle.co.uk/Article10755.html
Russia Dumps the U.S. Dollar for Euro as Reserve Currency
Currencies / Global Financial System May 19, 2009 - 07:37 PM
The US dollar is not Russia’s basic reserve currency anymore. The euro-based share of reserve assets of Russia’s Central Bank increased to the level of 47.5 percent as of January 1, 2009 and exceeded the investments in dollar assets, which made up 41.5 percent, The Vedomosti newspaper wrote.
The dollar has thus lost the status of the basic reserve currency for the Russian Central Bank, the annual report, which the bank provided to the State Duma, said.