Kazakhstan latest to step away from dollar
The National Bank of Kazakhstan is shifting the composition of its reserve assets towards the euro and away from dollar, according to news reports.
Bloomberg, a news wire, reported that the central bank's governing board had decided at the end of November to shear the size of the dollar holdings by 5%. The central bank said it had voted to raise its stash of euro-denominated assets, but did not specify an amount.
The fall in the value of the dollar has prompted many central banks to diversify
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