IMF figures show fall in euro’s share of foreign exchange holdings

IMF headquarters in Washington DC

IMF figures on the currency composition of official foreign exchange reserves (Cofer) reveal the total amount of euro-denominated assets held as foreign exchange across the globe fell by $8.19 billion in the third quarter of 2012. Before the decrease, euros comprised 24.98% of allocated reserves - those whose currency composition has been identified - and at the end of the third quarter this fell to 24.14%.

The drop was likely driven by emerging and developing economies eschewing euro assets, th

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