EURO VS DOLLAR

UPI: Malaysia Advocating Switch To Euro
SINGAPORE (United Press International via COMTEX) -- Malaysia, whose currency the ringgit has been pegged to the U.S. dollar since 1998, has become an unlikely advocate for the Euro.

Of late, the oil producing Malaysia has been advocating a review of international oil prices, currently denominated in dollars, to protect oil producers from the uncertainties of the currency market.

And Prime Minister Mahathir Mohamed has also been urging the private sector to use the Euro in their export trade believing the dollar was likely to depreciate further.