ECB sees no clear rival to US dollar as global currency
The US dollar has proven to be a "resilient" reserve currency since the financial crisis, which suggests it will not be replaced by another currency as the international monetary system evolves, according to a special feature published by the European Central Bank (ECB) today.
The ECB's latest report on ‘The international role of the euro' includes an article by Arnaud Mehl examining how central banks are diversifying their reserves and how this impacts global foreign exchange markets.
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 info@centralbanking.com or view our subscription options here: http://subscriptions.centralbanking.com/subscribe
You are currently unable to print this content. Please contact info@centralbanking.com to find out more.
You are currently unable to copy this content. Please contact info@centralbanking.com to find out more.
Copyright Infopro Digital Limited. All rights reserved.
You may share this content using our article tools. Printing this content is for the sole use of the Authorised User (named subscriber), as outlined in our terms and conditions - https://www.infopro-insight.com/terms-conditions/insight-subscriptions/
If you would like to purchase additional rights please email info@centralbanking.com
Copyright Infopro Digital Limited. All rights reserved.
You may share this content using our article tools. Copying this content is for the sole use of the Authorised User (named subscriber), as outlined in our terms and conditions - https://www.infopro-insight.com/terms-conditions/insight-subscriptions/
If you would like to purchase additional rights please email info@centralbanking.com
More on Reserves
Saudi Arabia gives Turkish central bank $5 billion
Turkish government moves to protect workers from firing in aftermath of earthquake
Colombia central bank transfers $1.6 billion to government
Country escapes trend of central bank losses
US court rules plaintiffs cannot seize Afghan reserves
Judge supports earlier ruling that frozen assets belong to Afghan government, not the Taliban
IMF allows five regional banks to hold SDRs
Development banks in Europe and the Americas are now “prescribed holders”
EU countries must report Bank of Russia assets, Commission says
Move opens way for seizing Russian assets, but Swiss government says confiscation would be illegal
Cuba replaces central bank governor
Head of foreign exchange body takes over from Wilson González
Sanctions fear drives surge in central bank gold purchases
China, Turkey and India are largest declared buyers, while Russia probably bought big quantities
Argentine minister announces debt buyback
Government will repurchase up to $1 billion in foreign currency bonds “to lower risk premium”