Asian Banks Cut Dollar Exposure
The extent to which Indian and Chinese banks are cutting their exposure to the ailing US dollar was revealed on Monday in data from the Bank for International Settlements.
The Asian central and commercial banks covered in the BIS data held only 67 per cent of their deposits in dollars as of September 2004, down from 81 per cent in the third quarter of 2001, said the Basel-based bank.
See: Financial Times
http://news.ft.com/cms/s/f47dee6a-8f38-11d9-a70f-00000e2511c8.html
The Asian central and commercial banks covered in the BIS data held only 67 per cent of their deposits in dollars as of September 2004, down from 81 per cent in the third quarter of 2001, said the Basel-based bank.
See: Financial Times
http://news.ft.com/cms/s/f47dee6a-8f38-11d9-a70f-00000e2511c8.html
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