Central banks’ coverage ratio drops by 23%

Reserves buffers to cover monthly imports decline to 6.9 months

The average import coverage ratios of central banks declined from nine to 6.93 months in 2022, says data from the Reserves Benchmarks 2022.

Somewhat surprisingly, high income economies did not record the highest ratio. This may have to do with the fact that central banks in these jurisdictions issue reserve currencies such as the US dollar, the euro, yen or sterling. As a result, their reserves portfolios are not a key instrument to finance imports.

Overall, 29 participants addressed this

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