Central banks are shedding dollars [DXC1 76.515 0.03 (+0.04%) ], reducing their holdings by about $9 billion in previous quarter, according to Nomura Securities’ Jens Nordvig, global head of G10 FX Strategy.
What are they buying instead? Gold [GCCV1 1412.90 -13.30 (-0.93%) ].
Monday, March 28, 2011
CNBC: Gold replacing the Dollar as World Reserve Currency?
Posted by Ben Cunningham at 9:00 AM