Euro Healing, But Still Distant No. 2 To US Dollar
International investors are recovering their appetite for euros as the shared currency recovers from a debt crisis that threatened to break it up. But the euro, which is shared by 18 countries, fell further behind the U.S. dollar last year in another key measure of importance and prestige: its use as a reserve currency by the world’s central banks. The European Central Bank said Wednesday that foreign demand for stocks, bonds and other portfolio investments in euros rose to 3.7 percent of eurozone economic output in 2013.
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