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Mon 12 Dec 2007Countries abandon dollar reserves in favour of strengthening euroThe euro has fast gained ground against the dollar in international official foreign exchange reserves in recent months, according to official statistics highlighting the nine-year-old currency's growing global importance.Reflecting its increasing strength on currency markets, the euro's share of known foreign exchange holdings rose to 26.4 per cent in the third quarter of this year, the International Monetary Fund reported late on Friday.