Dollar remains key to central banks’ reserves
Renminbi purchases come with possible legal risks, Central Banking’s Autumn Meetings told
The US dollar remains the key component of central banks’ reserve portfolios, said several attendees at Central Banking’s Autumn Meetings in Miami on October 24.
Non-US dollar currencies can offer higher yields, lower correlations with existing assets and issuers with decent credit ratings, said one central banker. Moreover, central banks and governments in some parts of the world are “moving away from the dollar in some respects because of the war [in Ukraine]”, added a commercial banker, “for
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