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13 Apr 2015
Euro's Global Reserve Status Threatened: IMF
FXStreet (Mumbai) - Fresh data from the International Monetary Fund (IMF) show central banks worldwide reduced their euro holdings by the most on record last year, anticipating losses caused by massive quantitative easing carried out by the European Central Bank (ECB).
The euro now represents just 22% of global reserves, a significant decline from 28% before the euro zone financial crisis five years ago. Meanwhile, dollar and yen holdings have both expanded.
According to the IMF's data, of the USD6.1 trillion of reserves for which central banks specify a currency, the proportion of euros fell in every quarter of 2014.
The euro now represents just 22% of global reserves, a significant decline from 28% before the euro zone financial crisis five years ago. Meanwhile, dollar and yen holdings have both expanded.
According to the IMF's data, of the USD6.1 trillion of reserves for which central banks specify a currency, the proportion of euros fell in every quarter of 2014.