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IMF’s COFER Report Shows Flows to Euro, Aussie and Loonie

Posted by WorldWideMarkets . on Oct 3, 2013 3:15:00 AM
The International Monetary Fund released its report on reserves held by central banks on Monday, the Currency Composition of Official Foreign Exchange Reserves (COFER).
While the overall total rose to USD11.138 trillion in the second quarter from USD11.089 trillion in the first quarter, the share that was held in U.S. dollars fell slightly to USD3.76 trillion from USD3.766 trillion. The dollar still remains the most important reserve currency even if there was slight diversification out of the greenback.
Euro reserves rose slightly to to USD1.446 trillion, or 23.8 percent of the total, in the second quarter from USD1.431 trillion in the first quarter, breaking declines in euro holdings since 2009 as the region's sovereign debt and economic crisis raged,
The yen's share fell to 3.8 percent in the second quarter from 3.9 percent in the prior quarter.
The IMF also broke out the numbers for the Canadian and Australian dollars for only for the second time as a separate line item. Central banks held USD101 billion in the Australian currency globally as of the second quarter, up from USD98.5 billion in the first quarter.They held US108.8 billion in Canadian dollars, up from USD94.9 billion in the first quarter.
Euro flows were good for the euro as were the aussie and loonie flows. Yen and dollar got no support from IMF

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