Central Bank of Russia has insisted on reducing the share of U.S. Treasury securities in national currency reserves. This has reduced the rate of U.S. currency and may affect the role of the dollar as global reserve currency.
Alexei Ulyukaev, one of the leaders of the RussianCentral Bank, said that Russia will transfer part of the reserves in bonds IMF. As of May 29, the reserves of Russia - the third largest in the world - were $ 401.1 billion of which $ 138.4 billion pripadaet on U.S. Treasury securities. From what part of plans to remove the official Moscow, Ulyukaev not specified.
Shortly after the publication of this statement, the euro /dollar rose to $ 1.4140, strengthened the American currency and the British pound.
Contingency mix should reflect the economic interests of the country. Of course, Russia is well aware of the fiscal and monetary weakness of the U.S. and China as a few weeks ago, did not want to have potentially depreciate assets, - commented on the situation, James Fenkner, a member of hedge fund Red Star Asset Management, specializing in investments in Russian companies.
Recall, earlier doubts about the reliability and the prospects for the dollar as the world's main reserve currency was president of Russia Dmitry Medvedev. He proposed to abandon the U.S. currency in favor of the ruble or supranational currency.
Alexei Kudrin, Deputy Prime Minister and Minister of Finance considers the likely acquisition of the status of reserve currency yuan, if China would provide its convertibility.
Head of the Chinese central bank Zhou Syaochuan called for the creation of a new currency to gradually replace the dollar as a world-class standards. Chinese authorities are concerned the financial dependence on the United States because of U.S. government securities of the country has invested a lot of money. And now the state stabilization fund China depends on many factors beyond the authorities of the Middle Kingdom. For example, from fluctuations in the dollar and changes in the economic policy of the United States.
A
Zhang Guanpin, an official of the Shanghai Branch of China Banking Regulatory Commission, said that the yuan can achieve the status of world reserve currency by 2020. According to officials, this year the proportion of the yuan in the world currency reserves may exceed 3%.
Overview of the foreign exchange market 11.06.2009
Latin America: oil prices and expectations of lower interest rates in Brazil have pushed up market
United States: increasing cost of oil and interest rates, investors' concern
Europe: the energy sector led by the strengthening of the region
Overview of the foreign exchange market 10.06.2009
Asia: high-tech sector and Commodities markets have given a green light
Goskomstat: The highest inflation rate in May registered in Crimea and Odessa region, Vinnytsya marked deflation
U.S. Congress questioned the need for IMF funding
Poll: More than 70% of Ukrainians have experience buying substandard goods
Russia disposes of securities of United States
Central Bank of Russia has insisted on reducing the share of U.S. Treasury securities in national currency reserves. This has reduced the rate of U.S. currency and may affect the role of the dollar as global reserve currency.
Alexei Ulyukaev, one of the leaders of the RussianCentral Bank, said that Russia will transfer part of the reserves in bonds IMF. As of May 29, the reserves of Russia - the third largest in the world - were $ 401.1 billion of which $ 138.4 billion pripadaet on U.S. Treasury securities. From what part of plans to remove the official Moscow, Ulyukaev not specified.
Shortly after the publication of this statement, the euro /dollar rose to $ 1.4140, strengthened the American currency and the British pound.
Contingency mix should reflect the economic interests of the country. Of course, Russia is well aware of the fiscal and monetary weakness of the U.S. and China as a few weeks ago, did not want to have potentially depreciate assets, - commented on the situation, James Fenkner, a member of hedge fund Red Star Asset Management, specializing in investments in Russian companies.
Recall, earlier doubts about the reliability and the prospects for the dollar as the world's main reserve currency was president of Russia Dmitry Medvedev. He proposed to abandon the U.S. currency in favor of the ruble or supranational currency.
Alexei Kudrin, Deputy Prime Minister and Minister of Finance considers the likely acquisition of the status of reserve currency yuan, if China would provide its convertibility.
Head of the Chinese central bank Zhou Syaochuan called for the creation of a new currency to gradually replace the dollar as a world-class standards. Chinese authorities are concerned the financial dependence on the United States because of U.S. government securities of the country has invested a lot of money. And now the state stabilization fund China depends on many factors beyond the authorities of the Middle Kingdom. For example, from fluctuations in the dollar and changes in the economic policy of the United States.
A
Zhang Guanpin, an official of the Shanghai Branch of China Banking Regulatory Commission, said that the yuan can achieve the status of world reserve currency by 2020. According to officials, this year the proportion of the yuan in the world currency reserves may exceed 3%.
Overview of the foreign exchange market 11.06.2009
Latin America: oil prices and expectations of lower interest rates in Brazil have pushed up market
United States: increasing cost of oil and interest rates, investors' concern
Europe: the energy sector led by the strengthening of the region
Overview of the foreign exchange market 10.06.2009
Asia: high-tech sector and Commodities markets have given a green light
Goskomstat: The highest inflation rate in May registered in Crimea and Odessa region, Vinnytsya marked deflation
U.S. Congress questioned the need for IMF funding
Poll: More than 70% of Ukrainians have experience buying substandard goods