Central banks tiptoeing away from the dollar

- Central Banking staff
- 04 Jan 2007

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According to this article from The New York Times published Tuesday 2 January, nations with large holdings of dollars are becoming increasingly willing to dump them in favour of the euro.

"The latest to make a major move is the United Arab Emirates, which joined Russia, Switzerland, Venezuela and others late last month when it shifted a chunk of its reserves into euros," the article says.

"There have also been ambiguous signals from China about a possible pullback from the dollar, and recent word

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