Central Banks to Boost Euro Holdings in Reserves, China's Wu Xiaoling Says

(Bloomberg) -- Central banks will boost holdings of
the euro as the European region's economy expands and the
currency remains ``stable,'' said Wu Xiaoling, vice governor of
the People's Bank of China.

The single currency of 13 nations from the European Union
has risen 1.9 percent this year against the dollar as the area's
growth beat economists estimates and the European Central bank
raised interest rates to 3.75 percent. Wu reiterated China
doesn't plan to cut its holdings of dollars, which make up most
of its $1.2 trillion in foreign-exchange reserves.


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