Hi John Before 2002-01-01, this was the status of currencies in interbank transactions.
US Dollar : 80 % Deutshce Mark : 10 % The other currencies had the remaining 10 %. I guess that Japanese yen had 5 % French Franc had 2 % British Pound and other currencies 3 %. Now with the arrival of Euro, it should have taken 10 % from Mark & 2 % from Franc and so a total of 12 %. May be in a year or 2, it will grab the 3 % share from British Pound. Still US$ leads with 80 % share. Note : Interbank transactions means when a Canadian sends money to India, it will be done through some international currency like US$ or Euro instead of Canadian $ or Indian Rupee. Madan --- kilopascal <[EMAIL PROTECTED]> wrote: > From: "kilopascal" <[EMAIL PROTECTED]> > To: "U.S. Metric Association" <[EMAIL PROTECTED]> > Subject: [USMA:20244] 'Euro-creep' starts slowly > Date: Mon, 27 May 2002 08:22:52 -0400 > Reply-to: [EMAIL PROTECTED] > > The euro has overtaken the dollar as the most widely > used foreign currency > in Britain, according to a new report from the Bank > of England. > But the Bank insisted that use of the European > currency remained patchy, > playing down fears of "euro-creep", or introduction > of the euro by stealth. > > Last year, 60% of British firms had predicted that > the proportion of sales > and purchases invoiced in euros would increase. > > In fact, only 45% of firms reported that this had > happened, the Bank said. > > At the same time, use of euros in retail > transactions remains restricted to > a handful of stores in tourist areas, and even there > accounts for an > infinitesimal proportion of turnover. > > Banking on the euro > > Use of the euro is now widespread among company bank > accounts, where it has > overtaken the dollar as the most popular foreign > currency. > > At the end of March, the Bank found there were over > 145,000 euro accounts, > of which around 90,000 were held by firms. > > And the European currency is widespread in border > regions - especially > Northern Ireland, the only part of the UK that abuts > directly onto the > eurozone. > > But the Bank insisted that the use of euros in > Northern Ireland was no > higher than the previous use of Irish punts, > indicating that the > introduction of the single currency had not > encouraged consumers to change > their habits significantly. > > Smooth running > > Less cheering for the eurosceptics, however, was the > Bank's verdict on the > changeover to cash euros at the beginning of this > year. > > The launch, the Bank said, was a huge success and > one that Britain would > learn from should it decide to join. > > Opponents of the currency had been hoping for > logistical chaos at the turn > of the year, to increase public opposition to the > loss of the pound. > > But the Bank concluded that the current timetable > for euro entry - still > something of a mystery - could not be speeded up > without running risks. > > Popular opinion remains unconvinced over the euro, > something the government > hopes may change after many Britons handle the > currency for the first time > on holiday this summer. > > __________________________________________________ Do You Yahoo!? Yahoo! - Official partner of 2002 FIFA World Cup http://fifaworldcup.yahoo.com
