Net loss widens for ECB on euro

The European Central Bank published its annual accounts for 2004 on Monday 14 March, saying that its net loss more than tripled last year as the falling dollar lowered the value of the bank's foreign-currency holdings.

The ECB reported a net loss of euro1.636 billion (US$2.2 billion) for 2004, compared with euro477 million the previous year.

"This loss was again due primarily to the evolution of exchange rates, which adversely affected the value, expressed in euro, of the bank's holdings of as

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