De Dollar Hegemonie 20

'OPEC Abandons U.S. Dollar.

Oil-producing countries have reduced their dollar holdings to the lowest level in two years and shifted oil income into other currencies, according to the Bank for International Settlements.
Members of the Organization of Petroleum Exporting Countries and Russia reduced their dollar holdings from 67 percent in the first quarter to 65 percent in the second quarter.
At the same time, they increased their holdings of euros from 20 percent to 22 percent, the BIS said. They also boosted holdings of the yen and British pound.
Eighteen months ago, the oil-producing countries’ exposure to the dollar was above 70 percent.
"The revelation in the latest BIS quarterly review … confirms market speculation about a move out of dollars and could put new pressure on the ailing U.S. currency," the Financial Times reports.
The BIS, the central bank for the developed world’s central banks, disclosed that OPEC’s dollar deposits fell by $5.3 billion, while euro and yen-denominated deposits rose $2.8 billion and $3.8 billion, respectively.
The last time oil-exporting countries reduced their exposure to the dollar — in late 2003 — it pushed the euro to an all-time high against the dollar.
The BIS noted: "While the data are not comprehensive, they do appear to indicate a modest shift over the quarter in the U.S. dollar share of reporting banks’ liabilities to oil exporting countries."
According to the Times, "the dollar has suffered weakness because of concerns about global imbalances and the future course of the Federal Reserve’s interest rate policy."'

Zie: http://news.newsmax.com/?bUY73bF1Rs-Iaj-qFqRMmnUKkQb