Chinese researchers to central bank call for switching from US $ to other global currencies

The US $ fell to a fresh 14-month low against the euro Monday after a Chinese central bank researcher called for moving some of the country's massive foreign reserves into euro and yen holdings.

Earlier this month, the Chinese central bank hd confirmed that the country’s foreign reserves at the end of September had surged to $2,273 trillion.

These are easily the largest in the world. US $ constitute a considerable part of forex holdings of China.