A while back we blogged on the subject of the dollar and whether Asian currencies such as the Singapore dollar were in line to become increasingly important in the global economic picture.
I picked up this story off Bloomberg:
Asia Agrees on Expanded $120 Billion Currency Pool
Japan, China, South Korea and 10 Southeast Asian nations agreed to form a $120 billion pool of foreign-exchange reserves that can be used by countries to defend their currencies amid the deepening global recession.
Read the complete article here...
The US has been so busy trying to stimulate its own local economy that it hasn't been able to defend its dollar and I'm wondering if this isn't a hint that w're one step closer to seeing the dollar replace.
Subscribe to:
Post Comments (Atom)
Posts
No comments:
Post a Comment