Central banks dump dollar for euro

Central banks around the world are getting rid of the US dollar in favor of the euro in a bid to stem losses from the declining greenback, an international survey reveals.

The survey says that more than two-thirds of central banks have increased their exposure to the euro in the past two years, mainly at the expense of the dollar. The report also finds that over half the central banks surveyed now find euro-zone money and debt markets as attractive for investors as those of the United States.

www.atimes.com