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China Expert Urges FX Reserves Shift; Dollar Falls
Reuters
Monday, Oct 26th, 2009
The dollar should remain the principal currency
in China's $2.27 trillion stockpile of foreign exchange reserves,
but the share of the euro and yen should increase, according
to an opinion piece in Monday's Financial News, a paper published
by the People's Bank of China.
The dollar fell to a 14-month low as word of the report spread
before recouping some of its losses after the author, Zhou Hai,
told Reuters he was only expressing a personal opinion.
"It is purely my personal view," Zhou, a division
chief with the financial research department of the central
bank's branch in Harbin, capital of the northeastern province
of Heilongjiang.
Other researchers have expressed similar views to Zhou, whose
piece appeared on the "Theoretics Weekly" page of
the paper.
Full
article here
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INFOWARS:
BECAUSE THERE'S A WAR ON FOR YOUR MIND
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