[DR1] Foreign reserves in British pounds

[NewsWhore]

Central Bank Governor Hector Valdez Albizu has informed that the Dominican Republic has started to include British pounds in its foreign currency reserves because United Kingdom assets offer higher return margins. Valdez was interviewed in London yesterday, according to a report by Diario Libre. The Dominican Central Bank currently keeps approximately 30% of its US$2 billion foreign currency reserve in British pounds. The bank also keeps reserves in euros and US dollars. Interest rates in the UK are approximately 2.25 points higher than in the euro zone (4.5%) and 0.75 % lower than the US Federal Reserve's rate of 5.25%.

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