FX Week Forum: Central banks and FX reserves
Growth in central banks' foreign exchange reserves has slowed over the past year, according to data released by the International Monetary Fund on September 30.
Looking at the countries that report reserve holdings to the IMF, Steven Saywell, global head of FX strategy at BNP Paribas in London, points out that, overall, reserves fell during the second quarter of 2013 for the first time since the first quarter of 2009. He believes falling external surpluses with the large emerging market
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