| ||||||||||||||||||||||||||||||
Reserve currency: Greenback’s share declines, but still largest player
It is not a surprise the dollar continues to be the preferred official foreign exchange reserve currency, but the share shows a gradual decline in the past ten years. According to Asha Bangalore, vice president and economist of The Northern Trust Company, the IMF’s Currency Composition of Official Foreign Exchange Reserves for the first and second quarter of 2011 places the greenback’s share at 60.6% of official foreign exchange reserves, down from a high of 71.5% in 2001. “The euro’s role has grown from a share of 17.9% in 1999 (when the euro was introduced) to 26.5% in the first two quarters of 2011 (see Chart). It is largely a tussle between the dollar and the euro, for now. It is noteworthy that the share of ‘other currencies’ has risen threefold to 4.8% in the first-half of 20o11 vs. 1.6% in 1999. The IMF notes that details of this category are unknown,” said Bangalore.
Source: Asha Bangalore, Northern Trust – Daily Economic Commentary, September 30, 2011. More on this topic (What's this?) Rising U.S. Dollar an Obstacle for U.S. Multinational Corporations (Jutia Group, 5/27/15) Gold Price Target of USD 2,300 (Gold Stocks Today, 6/26/15) Mayweather Pacquiao Fight and the Declining Value of the U.S. Dollar (Jutia Group, 5/8/15)  1 comment to Reserve currency: Greenback’s share declines, but still largest playerLeave a Reply |
![[Most Recent Charts from www.kitco.com]](http://www.kitconet.com/charts/metals/gold/t24_au_en_usoz_4.gif)  (requires Windows Media Player) 
|  
   | ||||||||||||||||||||||||||||
Copyright © 2016 Investment Postcards from Cape Town - All Rights Reserved Performance Optimization WordPress Plugins by W3 EDGE | ||||||||||||||||||||||||||||||
By Prieur du Plessis, on October 4th, 2011 posted in: 
Email
Byron Wien Announces “The Ten Surprises” for 2013
Prieur’s Readings (January 3, 2013)
Bob Farrell’s 10 rules for investing
Running 2012 NYC Marathon – a means to a better life for impoverished children
Prieur’s Readings (August 29, 2012): No “death of equities”
[...] post? If so, click here to subscribe to updates to Investment Postcards from Cape Town by e-mail. Reserve currency: Greenback’s share declines, but still largest player was first posted on October 4, 2011 at 5:20 am.©2011 “Investment Postcards from Cape [...]