Reserve managers cling to the dollar but shun the euro, CBP survey finds

Currencies in the balance

The ongoing crisis in the eurozone has caused significant numbers of central banks to reduce their holdings of euro reserves and begin investing in non-traditional currencies, although appetite to hold reserves in the US dollar remains strong, according to an annual survey published by Central Banking Publications today.

The survey forms the first chapter in the book RBS Reserve Management Trends 2012, sponsored by The Royal Bank of Scotland and published today. It is the eighth in a series of a

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