U.S. dollar share of currency reserves hits 4-year low, IMF says

Section:

From Reuters
via Malay Mail, Kuala Lumpur
Saturday, March 31, 2018

NEW YORK -- The U.S. dollar's share of currency reserves reported to the International Monetary Fund declined in the final quarter of 2017 to a four-year low, as other currencies' shares of reserves grew, data released yesterday showed.

The share of dollar reserves has declined for four straight quarters as the greenback weakened in 2017 due to faster growth outside the United States and bets that other major central banks would consider reducing stimulus. Still, the dollar has remained the biggest reserve currency by far.

Global reserves are assets of central banks held in different currencies, mainly used to support their liabilities. Central banks sometimes have used reserves to help support their respective currencies.

"Reserve managers in Q4 liked yen and 'other currencies,'" Steven Englander, head of research and strategy with Rafiki Capital Management, wrote in a research note. "The limited U.S. dollar buying is not surprising. Reserve managers buy dollars when they have to. They rarely want to buy." ...

... For the remainder of the report:

http://www.themalaymailonline.com/money/article/us-dollar-share-of-globa...



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