Malaysia confirms dollar reserves shift

Malaysia has moved some of its $82 billion of currency reserves away from the dollar, Prime Minister Abdullah Ahmad Badawi told reporters Tuesday 30 January in Davos.

"We're concerned for the reason that the high percentage of our international trade is in U.S. dollars," the Malaysian Prime Minister told reporters in Davos, Switzerland at the annual meeting of the World Economic Forum.

When asked whether Malaysia will cut its dollar holdings, he said: "We have already done. We'll continue to w