Central banks shy away from euro reserves

Douglas Borthwick at Faros Trading

Central banks have slowed their accumulation of foreign exchange reserves, and in some cases reduced their allocation to the euro as a result of ongoing instability in the eurozone, according to the latest reserves data from the International Monetary Fund.

During the second quarter, the total foreign exchange holdings of the 139 reporting entities recorded by the IMF's Currency Composition of Official Foreign Exchange Reserves (Cofer) database reached $10.08 trillion; an increase from the $8.4

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