Opec turns its back on dollar

In its quarterly review, the BIS said there has been "a subtle but noticeable" shift in the composition of deposits over the last three years. "Since the third quarter of 2001, oil revenue seems to have been channelled increasingly into euro and other currency deposits. US dollar-denominated deposits fell from 75% of total deposits in the third quarter of 2001 to 61.5% in the last quarter," the bank said. Meanwhile, the share of euro denominated-deposits rose from 12% to 20% over the same

Only users who have a paid subscription or are part of a corporate subscription are able to print or copy content.

To access these options, along with all other subscription benefits, please contact [email protected] or view our subscription options here: https://subscriptions.fx-markets.com/subscribe

You are currently unable to copy this content. Please contact [email protected] to find out more.

To continue reading...

You need to sign in to use this feature. If you don’t have a FX Markets account, please register for a trial.

Sign in
You are currently on corporate access.

To use this feature you will need an individual account. If you have one already please sign in.

Sign in.

Alternatively you can request an indvidual account here: