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Sovereign Wealth Funds Briefing - Categorized | Reserve Currencies

BRICs add $60 bln reserves as Zhou derides Dollar

Posted on 09 June 2009

From Bloomberg: The BRICs are buying dollars at the fastest pace since before credit markets froze in September, protecting exports even as leaders of the biggest emerging markets consider alternatives to the U.S. currency.

Brazil, Russia, India and China increased foreign reserves by more than $60 billion in May to limit currency gains as the first global recession since World War II restricted exports, data compiled by central banks and strategists show……..Full Article: Source


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