From U.S. No one will refuse .

On Tuesday the dollar against the euro and the yen sank to its lowest level for the whole year after the British news agencies circulated information that the Arab countries and other states are considering the possibility of smooth-out of U.S. currency in payment for oil. The reason for selling was an article in the British newspaper The Independent, in which it was observed that the Arab countries, China, Russia, Japan and France are secret talks about switching from dollars to euros, yen and Chinese yuan in trading accounts. Officials mentioned in the article were made by the States or with the denial of negotiations, or said they did not have information about them. However, the denial failed to stop the sale of the dollar. After lunch at the auctions in London, the dollar fell 0.8% to 88.8 yen per dollar and the euro rose 0.7% to 1.4748 dollar per euro. If the dollar continue to fall, it could fall below the minimum in the long years of 87.11 yen per dollar and the euro will be able to develop into a two-year maximum of 1.4842 dollars per euro, reached last month. Kuwait's oil minister, Sheikh Ahmad al-Abdullah al-Sabah said that oil ministers of the Gulf States did not carry out any negotiations on this issue. "At our level, there was nothing - he said. - I do not even think about it '. Head of the Central Bank of UAE, Sultan Nasser al-Suwaidi said that his country does not intend to abandon dollar payments for oil. "No meeting was not" - he told Associated Press, adding that the dollar "will remain the currency for oil prices. An article published in The Independent, supported the existing market skepticism about the U.S. currency in favor of the euro and the yen, while the world still is an open debate on the future of the dollar as the primary global currency. Last week the International Monetary Fund data showed that the level of the dollar in total reserves of the world fell to its lowest level since 1995. Meanwhile, former United States Trade Representative Robert Zallik, managing the World Bank, warned that should not be perceived status of the U.S. currency as a tribute. "Some stories just do not stop, and that information about the probable replacement of the dollar as the main currency for oil trade - this is just another chapter in the conspiracy against the dollar, which today is the key and reserve world currency", - said Jane Foley, a researcher at Forex . com. The dollar also fell against the euro after the central bank of Australia has decided to raise interest rates, which was considered as the property market and economic recovery. New confidence in the future reduces the role of the dollar, which during the recession was considered a safe haven. Worries about the dollar is partly based on the increased budget deficits of the United States and is wasteful of monetary policy pursued by the Federal Reserve System and includes a very low refinancing rates and an increase in money supply in circulation. All these operations could weaken the U.S. currency The fact that the dollar plays the role of reserve currency and the pricing supports it, because governments and businesses to keep or buy dollars. Currency analyst at Bank of Bank of New York Mellon Neil Mellor said that the possible intention of the Gulf States to reduce its dependence on the dollar potentially very important because it concerns the dollar reserves of those countries. Any step, lowering the price of the dollar, and lowers the cost of their own huge reserves. Over the past five years, the dollar dropped significantly in comparison with its main competitors, which has led to calls to diversify foreign exchange reserves in countries such as China and Arab countries. As a result, in talking about the loss of the dollar, its role in pricing there is nothing fresh - in 2003, Russia has refused to anchor their currencies to the dollar, and instead pinned the ruble against the currency basket comprising the dollar and euro. During the last oil boom, Russia, which is one of the largest oil producers in the world, had amassed large dollar reserves. The representative of the Prime Minister of Russia Vladimir Putin, Dmitry Peskov, dismissed the newspaper article dubbed her "tiny", but confirmed a new strategy for Russia, which has the goal of increasing the number of reserve currencies, "to ease the load on a single global currency and to prevent another crisis." At the same time, China takes stake in energy and commodity companies to reduce their dependence on the dollar. Hans Redeker, currency expert bank BNP Paribas, said that Saudi Arabia has the largest oil reserves in the world would be a key country in discussing the ways in which currencies should be evaluated oil. "Investors should not forget that Saudi Arabia is interested in the fact that the United States remained strong and continued to participate in the life of the region - he says. - Abandonment of the dollar in favor of a basket of currencies would further weaken the U.S., which is contrary to the interests of Saudi Arabia.