http://bphouse.com/honest_money/2009/07/04/new-reserve-currency/ Gold is Wealth Hiding in Oil Mon, 30 Jan 2012 17:03:07 +0000 hourly 1 http://wordpress.org/?v=3.3.1 http://bphouse.com/honest_money/2009/07/04/new-reserve-currency/comment-page-1/#comment-1575 Ivo Cerckel Sun, 05 Jul 2009 00:10:32 +0000 http://bphouse.com/honest_money/?p=1472#comment-1575 India to diversify reserves away from dollar Rebecca Bundhun Last Updated: July 04. 2009 8:13PM UAE / July 4. 2009 4:13PM GMT http://www.thenational.ae/article/20090704/BUSINESS/707049914/1005 SNIPS India has joined countries including China, Russia and Brazil in pushing to diversify their reserves away from the dollar, with growing concern over the management of the world’s largest economy. The threat to the reserve status of the US currency, which could intensify at this week’s summit of the Group of Eight (G8) industrialised nations, also raises questions in the Gulf, where most currencies are pegged to the dollar. + Analysts say the changes would also hold significance for the Gulf. “I wouldn’t expect the Gulf states to be at a forefront of a move away from the dollar but if the dollar status changes, their relationship would inevitably change as well,” said Simon Williams, HSBC’s chief economist for Gulf markets. + It’s natural there would be a shift in reserve holdings of countries to reflect the emergence of China and gradual shifts in the global economy, but the dollar is going to remain the reserve currency for some time,” Paul Gamble of Jadwa Investment said. India to diversify reserves away from dollar
Rebecca Bundhun
Last Updated: July 04. 2009 8:13PM UAE / July 4. 2009 4:13PM GMT
http://www.thenational.ae/article/20090704/BUSINESS/707049914/1005
SNIPS
India has joined countries including China, Russia and Brazil in pushing to diversify their reserves away from the dollar, with growing concern over the management of the world’s largest economy.
The threat to the reserve status of the US currency, which could intensify at this week’s summit of the Group of Eight (G8) industrialised nations, also raises questions in the Gulf, where most currencies are pegged to the dollar.
+
Analysts say the changes would also hold significance for the Gulf. “I wouldn’t expect the Gulf states to be at a forefront of a move away from the dollar but if the dollar status changes, their relationship would inevitably change as well,” said Simon Williams, HSBC’s chief economist for Gulf markets.
+
It’s natural there would be a shift in reserve holdings of countries to reflect the emergence of China and gradual shifts in the global economy, but the dollar is going to remain the reserve currency for some time,” Paul Gamble of Jadwa Investment said.

]]> http://bphouse.com/honest_money/2009/07/04/new-reserve-currency/comment-page-1/#comment-1566 Ivo Cerckel Sat, 04 Jul 2009 06:41:58 +0000 http://bphouse.com/honest_money/?p=1472#comment-1566 UDPATE 2-Canada defends US$ as global reserve currency Fri Jul 3, 2009 1:25pm EDT Sees stability based on greenback in global crisis Expects forex discussion at summit in Italy Sees room for C$ appreciation as part of realignment Forecasts higher jobless rates in Canada, U.S. (Adds context, remarks on regulation, paragraphs 2-3, 14-15) By Louise Egan http://www.reuters.com/article/usDollarRpt/idUSN0313717520090703 SNIP OTTAWA, July 3 (Reuters) - The U.S. dollar as the global reserve currency of choice has been a stabilizing force during the current financial crisis, Canada said on Friday, downplaying calls to debate the greenback's dominant status. UDPATE 2-Canada defends US$ as global reserve currency
Fri Jul 3, 2009 1:25pm EDT
Sees stability based on greenback in global crisis
Expects forex discussion at summit in Italy
Sees room for C$ appreciation as part of realignment
Forecasts higher jobless rates in Canada, U.S. (Adds context, remarks on regulation, paragraphs 2-3, 14-15)
By Louise Egan
http://www.reuters.com/article/usDollarRpt/idUSN0313717520090703
SNIP
OTTAWA, July 3 (Reuters) – The U.S. dollar as the global reserve currency of choice has been a stabilizing force during the current financial crisis, Canada said on Friday, downplaying calls to debate the greenback’s dominant status.

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