About us
  |  
Advertising
  |  
Contact
  |  
Get Home Delivery
  |  
RSS
  |  
Share on your site
  |  
MULTIMEDIA
May 26, 2012
 
 
 
 
 
 

Dollar plummets to new 14-month lows vs euro

27 October 2009 / AP, NEW YORK
The dollar hit a fresh 14-month low against the euro as a regional Chinese central bank researcher argued for diversification of the country’s reserves away from the greenback. A strong economic report from South Korea sparked an equities rally and dulled the buck’s safe-haven luster.

The euro touched a 14-month high of $1.5061 in overnight trading before falling to $1.5023 early in New York Monday. Late on Friday in New York, the euro was at $1.5002. Meanwhile, the dollar dipped to 91.89 Japanese yen from 92.10 yen, and the British pound rose to $1.6327 from $1.6311.

Politicians and bank officials from big exporters, including China, that hold huge amounts of US Treasuries as reserves have expressed unease with this situation as the value of their dollar holdings falters. On Monday, a regional People’s Bank of China researcher said in a report that the country should increase the amount of currencies other than the dollar in its reserves in a newspaper published by the Chinese central bank.

 
Weather
City>>
ISTANBUL
Today Sun Mon
14C°
21C°
15C°
23C°
16C°
24C°
 

© Feza Gazetecilik A.Ş. 2007, Ahmet Taner Kışlalı Cad. No: 6, Bahçelievler - İstanbul 34194 Turkey, +90 (212) 454 1454, +90 (212) 454 1497(fax)