The always imminent demise of the global dollar

Looming dollar

Geopolitical rivals to the US have long bemoaned their dependence on the US dollar. France’s then-finance minister Valéry Giscard-d’Estaing decried it in 1965. People’s Bank of China (PBoC) governor Zhou Xiaochuan made a high-profile speech in 2009 – that is, nearly 14 years ago – similarly pointing to the drawbacks of the dollar-based global monetary and financial system. Russia began shifting the currency composition of its foreign assets away from dollars in 2013 – before its president

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ETFs in reserve management focus report 2022

Exchange traded funds (ETFs) have risen in popularity among investors and may be of interest to central bank reserve managers in pursuit of safety, liquidity and returns. Central bank mandates vary, but all reserve managers must navigate a new, complex…

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