France’s Noyer Says BNP May Prompt Shift Away From Dollar

Bank of France Governor Christian Noyer said the U.S. investigation into BNP Paribas SA (BNP)’s dealings with sanctioned nations may encourage companies to stop using dollars in international transactions.

“We could say that companies would have maximum interest to do the most possible transactions in other currencies,” Noyer, who is also a member of the European Central Bank’s Governing Council, said yesterday on BFM television. “Trade between China and Europe — do it in euros, do it in renminbi, stop doing it in dollars. This is an affair that will leave marks.”