End of Bretton Woods has helped dollar reserves - ECB
Dollar dominance reflective of reserve 'inertia'
The US dollar has continued to dominate currency reserves due to a decline in network effects and the unwillingness of other countries to permit a strong accumulation of their currencies, according to a report by the European Central Bank (ECB), published this month.
Between the end of World War II and the collapse of fixed exchange rates, the ECB notes a shift in FX reserves from sterling to the US dollar, resulting in the latter becoming the reserve currency of choice.
However, since the
Only users who have a paid subscription or are part of a corporate subscription are able to print or copy content.
To access these options, along with all other subscription benefits, please contact customer services - www.fx-markets.com/static/contact-us, or view our subscription options here: https://subscriptions.fx-markets.com/subscribe
You are currently unable to print this content. Please contact customer services - www.fx-markets.com/static/contact-us to find out more.
You are currently unable to copy this content. Please contact info@fx-markets.com to find out more.
Copyright Infopro Digital Limited. All rights reserved.
As outlined in our terms and conditions, https://www.infopro-digital.com/terms-and-conditions/subscriptions/ (point 2.4), printing is limited to a single copy.
If you would like to purchase additional rights please email info@fx-markets.com
Copyright Infopro Digital Limited. All rights reserved.
You may share this content using our article tools. As outlined in our terms and conditions, https://www.infopro-digital.com/terms-and-conditions/subscriptions/ (clause 2.4), an Authorised User may only make one copy of the materials for their own personal use. You must also comply with the restrictions in clause 2.5.
If you would like to purchase additional rights please email info@fx-markets.com
More on Reserves
Argentina opens IMF talks as crisis deepens
Government extends debt maturity and pledges reserves will not be used to repay international investors
Argentine central bank tries to halt peso’s slide
Peso falls after primary election results come as blow for President Macri
China discloses FX portfolio for first time
Report shows ratio of US dollar-denominated assets declined to 58% in 2014, from 79% in 1995
How Singapore manages its reserves
MAS managing director Ravi Menon explains Singapore’s total approach to reserve management
China’s FX reserves hit seven-month high as capital flows back in
Reserves rise for fifth month in a row in March, as US-China trade thaw eases foreign investors’ concerns
RBI buys $5bn in FX swaps auction
Unusual move to inject long-term liquidity into the system is heavily oversubscribed
Colombia central bank buys $1 billion from Treasury
Aims to support plan to enhance international reserves portfolio
Brexit unlikely to affect sterling’s reserve currency status
No-deal scenario could put major downward pressure on the currency
