For a few dollars less

It began with Russia. Over the past few years, the Russian Central Bank has reduced the share of dollars in its foreign currency reserves, and has made no bones about it. Then Indonesia said it, too, was considering such a move. This week, Bahrain’s central bank governor said the euro is increasingly emerging as an international reserve currency. And reports the very next day – though later played down – suggested that South Korea planned to sell some of its dollar holdings to “diversify” its currency reserves. Korea is the world’s fourth-largest holder of dollar reserves after Japan, China and Taiwan.

AsiaTimes