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TOKYO, May 4 (Itar-Tass) - Brazil, Russia, India, and
China (referred to as BRIC group), which currently manifest the world's
highest economic growth rate, have surpassed G7 countries in their
forex/gold holdings for the first time in history. As of the end of March,
the aggregate holdings of BRIC amounted to $1, 292, 200 million, according
to estimates published on Thursday in the Nihon Keizai, Japan's leading
economic newspaper.
As compared with the state of affairs in this respect as
of the end of 2004, the forex/gold holdings of BRIC went up by 40 percent.
At the same time, the forex/gold reserves of G7 countries (Britain,
Germany, Italy, Canada, the United States, France, and Japan) amounted to
$1, 253, 900 million.
At present, China accounts for 68 percent of forex/gold
reserves of BRIC countries. However, according to Japanese experts'
estimates, the growth of its forex/gold reserves has slowed down while
those of Russia, India, and Brazil now increase by more than 10 percent a
year. Russia, which ranks second in forex/gold reserves in BRIC after the
PRC, rivets particular attention in this connection.
BRIC countries, the Nihon Keizai writes, will continue
to increase their influence on the world currency market while having
mounting impact on the rate of the US dollar, in particular.
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