From China Daily via China Economic Net:
Countries around the world should gradually rely less on the dollar for trade and their foreign exchange reserves, a Chinese central bank official said in comments.
Following the comments, the dollar briefly fell against the yen, but soon recouped all the earlier losses.
Countries around the world should gradually rely less on the dollar for trade and their foreign exchange reserves, a Chinese central bank official said in comments.Analysts say China has been gradually diversifying away from dollar assets in its foreign exchange reserves, the world’s largest, but fears of a collapse in the U.S. currency will prevent it from making any dramatic shift.[Full Text]
Also see China Should Buy Gold With Reserves
