The dollar has lost confidence

Finansy29-12-2007 dollar has lost confidence in world currency reserves are actively getting rid of dollars and increase their holdings in euros. Critical level of outstanding mortgage loans led investors to think and to sell a record number of U.S. securities. According to the agency world to Bloomberg, the dollar share of world foreign exchange reserves dropped to very low levels. If at the end of June this year, the dollar accounted for 65% of global currency reserves, at the end of September, according to the calculations of the International Monetary Fund, the share fell to 63.8%. During the same period the euro's share increased from 25.5 to 26.4%. Thus, the share of U.S. dollar in the structure of the world's foreign exchange reserves fell to a minimum since the beginning of settlement in 1999, according to Interfax. This once again confirms the fact that central banks have diversified their currency reserves, getting rid of dollars.