[Previous entry: "Why federation of East Africa is welcome indeed"] [Next entry: "Villagers eat ravenous lion"]

11/28/2004:

"India, China start dumping US dollar"

India, China and other countries start dumping US dollar and buy Euro

The India, China and other countries have started dumping US Dollar quietly and buying Euro. That put a very serious pressure on US Dollar. Chinese and Indian central bank officials denied such reports. But Foreign exchange traders say they are quite convinced of Indian and Chinese moves. According some traders, there are many other countries specially oil rich Middle Eastern countries running away from dollar.

Full Article : indiadaily.com