Reuters: US Dollar Report: Russia will not switch out of euro reserves -Medvedev

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Russia will not switch out of euro reserves -Medvedev Nov 27th 2012, 13:13 PARIS | Tue Nov 27, 2012 8:13am EST PARIS Nov 27 (Reuters) - Russia has no plans to switch its euro-denominated foreign exchange reserves into other currencies, Prime Minister Dmitry Medvedev said on Tuesday during a visit to Paris. "We have no intention of reallocating them ... Despite the problems (in the euro zone ) we think it will get better," Medvedev told a news conference. Russia has signalled in the past that it could be willing to diversify its forex reserves by adding other currencies such as the Australian dollar.

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