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Thread: Dollar's dominant role to be replaced by Euro?
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[quote=GUESTMONEY,270060]Recent US dollar decline seems to suggest that it is losing its dominant role. "If US economy goes into recession, dollar will definitely lose its dominance in world economies." Some economists preidict. On contrary, Euro and RMB is appreciating very fast. The data reveals that the Euro's exchange rate against dollar was 1: 1.47 in Dec. last year. Euro has increased by 80 percent just in seven years. Many countries in the world gradually prefer to reserve Euros. It is said that Euro has already taken 25 percent in world foreign exchange reserves. By 2010, it will reach 30 percent. If this trend continues, Euro will be possible to replace dollar in the near future. On the other hand, some people predict RMB might replace dollar instead of Euro since Chinese economy is developing prosperously. Do you think it will become true? Who will replace dollar, Euro or RMB?[/quote]
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