Euro gains status as reserve
Asoka Woehrmann, lead manager of Frankfurt-based DWS’s Hedge L/S Currency fund, said the euro’s fortunes have also been helped by Russia’s central bank openly talking about shifting half their currency reserves to the euro.
“They have spoken about redeeming their Paris Club (membership) and they have to shift $15 billion to the euro to do that,” Woehrmann said.
He added the Bank of Japan has already welcomed a prospect of the euro as a second reserve currency after the dollar, a
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