Euro overtakes Dollar as most circulated currency

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Post #276,877 by JayMehaffey 12/28/06 4:09:50 PM Reply	Euro overtakes Dollar as most circulated currency [link\|http://www.ft.com/cms/s/18338034-95ec-11db-9976-0000779e2340.html\|FT.com] The US dollar bill\ufffds standing as the world\ufffds favourite form of cash is being usurped by the five-year-old euro. The value of euro notes in circulation is this month likely to exceed the value of circulating dollar notes, according to calculations by the Financial Times. Converted at Wednesday\ufffds exchange rates, the euro took the lead in October. This is circulating money, not financial reserves. In financial reserves the dollar still dominates. But that the Euro has spread so far so fast is probably related to the decline of the Dollar. It suggests that one of the things holding up the dollar was the lack of any suitable replacement currency. Jay
Post #276,881 by Another Scott 12/28/06 4:28:18 PM Reply	Doesn't it have more to do with 12 countries using it? img. I would expect that 12 industrial countries that gave up their own currencies for the Euro and have a population of ~ 300 M would have similar value to the dollar currency outstanding. At least over the long-term. I'm not surprised by this news; I don't think by itself it is an idicator of weakness of the dollar. (Of course, the dollar has weakened substantially over the last 5 years or so. The initial target was ~ 1 Euro per Dollar, IIRC.) Dollars Per Euro versus Time: [image\|http://ichart.finance.yahoo.com/5y?eurusd=x\|0\|Dollars per Euro since 2002\|280\|510] As you note, the dollar is still the gorilla in the currency markets and foreign reserves. China by itself has [link\|http://news.bbc.co.uk/2/hi/business/6106280.stm\|$1 T] in foreign reserves in dollars. FWIW. Cheers, Scott.
Post #276,925 by lincoln 12/29/06 2:08:34 PM Reply	Chart's not showing maybe the source site moved the chart page? lincoln "Chicago to my mind was the only place to be. ... I above all liked the city because it was filled with people all a-bustle, and the clatter of hooves and carriages, and with delivery wagons and drays and peddlers and the boom and clank of freight trains. And when those black clouds came sailing in from the west, pouring thunderstorms upon us so that you couldn't hear the cries or curses of humankind, I liked that best of all. Chicago could stand up to the worst God had to offer. I understood why it was built--a place for trade, of course, with railroads and ships and so on, but mostly to give all of us a magnitude of defiance that is not provided by one house on the plains. And the plains is where those storms come from." -- E.L. Doctorow Never apply a Star Trek solution to a Babylon 5 problem. I am not merely a "consumer" or a "taxpayer". I am a *Citizen* of the United States. [link\|mailto:golf_lover44@yahoo.com\|contact me]
Post #276,928 by Another Scott 12/29/06 2:20:52 PM Reply	Still works here. Clear your cache, maybe? It's a chart on [link\|http://finance.Yahoo.com\|http://finance.Yahoo.com] Cheers, Scott.
Post #276,969 by lincoln 12/30/06 11:19:50 AM Reply	Cleared my cache; now I see it doesn't make a whole lot of sense considering that I almost never go to Yahoo's finance pages except through linkys here, and I clear out my cache every 2-3 days. lincoln "Chicago to my mind was the only place to be. ... I above all liked the city because it was filled with people all a-bustle, and the clatter of hooves and carriages, and with delivery wagons and drays and peddlers and the boom and clank of freight trains. And when those black clouds came sailing in from the west, pouring thunderstorms upon us so that you couldn't hear the cries or curses of humankind, I liked that best of all. Chicago could stand up to the worst God had to offer. I understood why it was built--a place for trade, of course, with railroads and ships and so on, but mostly to give all of us a magnitude of defiance that is not provided by one house on the plains. And the plains is where those storms come from." -- E.L. Doctorow Never apply a Star Trek solution to a Babylon 5 problem. I am not merely a "consumer" or a "taxpayer". I am a *Citizen* of the United States. [link\|mailto:golf_lover44@yahoo.com\|contact me]

Euro overtakes Dollar as most circulated currency - (JayMehaffey) - (4) - Dec. 28, 2006, 04:09:50 PM EST

Doesn't it have more to do with 12 countries using it? img. - (Another Scott) - (3) - Dec. 28, 2006, 04:28:18 PM EST

Chart's not showing - (lincoln) - (2) - Dec. 29, 2006, 02:08:34 PM EST

Still works here. Clear your cache, maybe? - (Another Scott) - (1) - Dec. 29, 2006, 02:20:52 PM EST

Cleared my cache; now I see it - (lincoln) - Dec. 30, 2006, 11:19:50 AM EST

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