Soros: The era of the dollar as the base currency deadline

The crisis in the credit market in the United States will end the era of the dollar as the main currency of world reserves. The statement was made by the investor George Soros on the International Economic Forum in Davos.

"The current crisis - this is not simply a consequence of the fall of the housing market, this is the end of 60-year period, the development of a credit system based on the dollar as the currency reserves - said Soros. - Now, other countries have shown an increasing reluctance to accumulate dollars ".

The percentage of the dollar in world currency reserves fell to a record level in 63,8% in the third quarter, as demand for U.S. assets diminished as a result of the crisis in the housing market, said in a report the International Monetary Fund. In the fourth quarter figure was 65%. The proportion of euro for the same period increased to 26.4% from 25.5%, transfers "Interfax", referring to agency Bloomberg.

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