20 Currencies Outperforming Gold This Year

CFA Franc

Gold appreciated an average of 3.4% against most currencies through the first half of 2011. This is the list of the top twenty currencies that have outperformed gold as of the end of the Q2 2011.

NZD New Zealand dollar 0.4%
SEK Swedish Krona 0.5%
BRL Brazilian Real 0.5%
MAD Moroccan Dirham 0.7%
MUR Mauritian Rupee 1.2%
ALL Albanian Leke 1.5%
PLN Polish Zloty 2.0%
NOK Norwegian Kroner 2.1%
COP Columbian Peso 2.3%
XAF CFA BEAC Franc 2.3%
COM CFP Franc 2.3%
EUR Euro 2.3%
DKK Denmark Krone 2.3%
HRK Croatian Kuna 2.4%
BGN Bulgarian Leva 2.6%
RUB Russian Ruble 3.3%
RON Romanian New Lei 3.4%
CHF Swiss Franc 4.8%
CZK Czech Republic Koruna 5.0%
HUF Hungarian Forint 6.8%
Source: GoldSilver.com

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Russia, China Agree To Stop Using The Dollar

Russia and China Agree

BEIJING, June 23 (Xinhua) -- The People's Bank of China, the country's central bank, said on Thursday that it has signed a revised bilateral currency settlement agreement with the Central Bank of the Russian Federation.

According to the revised agreement, individuals and corporations from both countries will be able to conduct settlements and payments using the yuan, the ruble and freely convertible currencies, the central bank said in a statement on its website.

In addition to border trade, ordinary trade may also be settled in both countries' official currencies, following the revision of the agreement.

The move will help promote bilateral financial cooperation, trade and investment, the statement said.

Analysts said the move will be of great significance in reducing reliance on the U.S. dollar in bilateral trade, lowering exchange rate risks and promoting the internationalization of the yuan.
 

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