Dollar news.

Discussion in 'Wall St. News' started by kashirin, Oct 4, 2007.

  1. I would expect Dow will reach 1 million mark very soon. Although 1 Euro for 10 000 $ even faster

    Vietnam and Qatar Change Dollar Reserve Policies

    The Saigon Times said this morning that the State Bank of Vietnam was abandoning the attempt to hold down the Vietnamese currency through heavy purchases of dollars. The policy is causing the economy to overheat, driving up inflation to 8.8pc.

    Vietnam, which has mid-sized reserves of $40bn, is seen as weather vane for the bigger Asian powers.

    ...Separately, the gas-rich Gulf state of Qatar announced that it had cut the dollar holdings of its $50bn sovereign wealth fund from 99pc to 40pc, switching into investments in China, Japan, and emerging Asia.
    The drastic shift by the Qatar Investment Authority is a warning that petro-dollar powers with some $3,500bn under management may pull the plug on the heavily endebted US economy.