Thursday, June 07, 2012

Dollar loses reserve status to yen & euro - NYPOST.com

Dollar loses reserve status to yen & euro - NYPOST.com: "The dollar's share of new cash in the central banks was down to 37 percent -- compared with two-thirds a decade ago.

Currently, dollars account for about 62 percent of the currency reserve at central banks -- the lowest on record, said the International Monetary Fund."

"They grumble that they've loaned the US record amounts to cover its mounting debt, but are getting paid back by a currency that's worth 10 percent less in the past three months alone. In a decade, it's down nearly one-third."

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