U.S. Dollar Versus Euro

Euro gains on dollar in official reserves

The euro has fast gained ground against the dollar in international official foreign exchange reserves in recent months, according to official statistics highlighting the nine-year-old currency’s growing global importance.

Reflecting its increasing strength on foreign exchange markets, the euro’s share of known foreign exchange holdings rose to 26.4 per cent in the third quarter of this year, the International Monetary Fund reported late on Friday. That was up from 25.5 per cent in the previous three months and from 24.4 per cent in the third quarter of 2006.

The dollar’s share of known official foreign reserves, calculated in dollar terms, fell to 63.8 per cent in the third quarter, down from 66.5 per cent in the same three months of 2006.

Hmmm… let’s see…

On one side is a currency from a country involved in a never-ending deficit-creating war…

On the other side is a currency backed by those with a reputation for austerity: Germany.

If everyone in America really had a choice in the money they could use, the contest would be over.

And World War II would have been fought for … what again?

Explore posts in the same categories: C.O.A.T. - Money

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