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 India Joins Russia And China In Questioning U.S. Dollar Dominance

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India Joins Russia And China In Questioning U.S. Dollar Dominance Vide
PostSubject: India Joins Russia And China In Questioning U.S. Dollar Dominance   India Joins Russia And China In Questioning U.S. Dollar Dominance Icon_minitimeSun Jul 05, 2009 5:06 am
July 4 (Bloomberg) -- Suresh Tendulkar, an economic adviser to Indian Prime Minister Manmohan Singh, said he is urging the government to diversify its $264.6 billion foreign-exchange reserves and hold fewer dollars.

“The major part of Indian reserves is in dollars -- that is something that’s a problem for us,” Tendulkar, chairman of the Prime Minister’s Economic Advisory Council, said in an interview yesterday in Aix-en-Provence, France, where he was attending an economic conference.

http://www.bloomberg.com/apps/news?pid=20601087&sid=aR7yfqUwTb4M
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