The News Review:

- FREX-Dollar dips vs most major currencies in thin trade
- Senior official: Renminbi likely to be used as currency for forex …
- Russia forex reserves up
- Fortis makes forex loss after BNP deal frozen
- Forex reserves drop for first time since 2003

FREX-Dollar dips vs most major currencies in thin trade
Reuters 
data reinforces grim economic outlook * Euro steady Trichet offers little hint on ECB policy * Sterling on defensive parity with euro in sight (Updates with closing prices) By Steven C. Johnson NEW YRK Dec 24 (Reuters) - The dollar fell against mostmajor currencies on Wednesday as data on unemployment spendingand durable goods orders reinforced the bleak outlook for theU. economy in the year ahead. Trading desks were lightly staffed ahead of the Christmasholiday confining currencies to narrow ranges. Market reactionto the economic data was subdued.

Senior official: Renminbi likely to be used as currency for forex …
Xinhua China 
25 (Xinhua) — China’s currency Renminbi is likely to join other international currencies to be used for forex reserves by other economies according to Wu Xiaoling former vice governor of the country’s central bank and now the deputy head of the financial and economic committee under the top legislature. Wu made the remarks in her article carried by the latest annual issue of the leading business magazine Caijing. Wu wrote that China should make preparations in its economic structure and its financial regime for its currency to be internationalized. Prior to making the Renminbi also called yuan a currency used for forex reserves by other economies it may be allowed to be used for trade settlements between China and some other countries and regions according to Wu. In China’s neighboring countries there were calls for the yuan to be used to settle bilateral trade payments she said.

Russia forex reserves up
Hürriyet Turkey 
4 billion the central bank said yesterday in the first rise for several weeks amid a fall in the value of the ruble. The central bank has been selling foreign currency to buy rubles to prop up the national currency which has been under pressure due to the global financial crisis and fears for the Russian economy. The forex reserves rose to $450. 8 billion (322 billion euros) as of Dec. 19 compared with $435. 4 billion as of Dec. 12 the central bank said in a statement.

Fortis makes forex loss after BNP deal frozen
Reuters 
substring(0CMSB_ID. BR) said it booked a currency loss of 295 million euros ($412. 9 million) after shareholders took legal action to freeze the sale of its assets to BNP.
Related from Insurancemonster: Fortis Plans to Pursue Insurance Sale to BNP Paribas

Forex reserves drop for first time since 2003
China Daily China 
But Cai did not say in which month ctober or November the forex reserves fell below the $1. 9-trillion level nor did he disclose the current size of the forex reserves. Central bank data show that at the end of September China’s forex reserves stood at $1. 9056 trillion a growth of 32. 92 percent over the same period of last year.