India, China And Others Dumping US Dollar to Buy Euro
Posted: Mon Nov 29, 2004 10:50 am
By Bala Vaddi Special
Correspondent
IndiaDaily.com
The India, China and other countries have started dumping the US Dollar quietly and buying the Euro. That has put a very serious pressure on the US Dollar. Chinese and Indian central bank officials denied such reports. But Foreign exchange traders say they are quite convinced of Indian and Chinese moves. According to some traders, there are many other countries, especially oil rich Middle Eastern countries, running away from dollar.
Copyright© 1997-2005, Indiadaily.com
http://www.indiadaily.com/editorial/11-27-04.asp
Correspondent
IndiaDaily.com
The India, China and other countries have started dumping the US Dollar quietly and buying the Euro. That has put a very serious pressure on the US Dollar. Chinese and Indian central bank officials denied such reports. But Foreign exchange traders say they are quite convinced of Indian and Chinese moves. According to some traders, there are many other countries, especially oil rich Middle Eastern countries, running away from dollar.
Copyright© 1997-2005, Indiadaily.com
http://www.indiadaily.com/editorial/11-27-04.asp