By ERIC PFANNER
International Herald Tribune
LONDON, Nov. 26 - The falling dollar reached new depths against the euro today, after a weeklong erosion of value prompted by concern that the dollar's status as the premier international reserve currency is growing more precarious.
The central bank of Russia said today that it would stop trying to peg the ruble solely against the dollar, shifting instead to a target based on a basket of global currencies. That could result in a decline in dollar purchases by the Russian central bank, whose currency reserves are dominated by dollar assets.
On Tuesday, a Russian central bank official, Alexei Ulyukayev, said his bank was considering altering the mix of its reserve holdings, possibly adding more euro-denominated assets, as the dollar weakens. And today, the bank's deputy chairman, Konstantin Korishchenko, said the bank would henceforth aim to keep the ruble trading within a range determined by a basket of currencies, not just the dollar.