Reserve managers seek alternatives to USD and EUR
The release of the latest data on foreign exchange reserves by the International Monetary Fund (IMF) on September 30 is a timely reminder of the trends in central bank reserve management. Reserve managers control a considerable quantum of foreign exchange stock and have the ability to significantly augment market movements. A few clear trends have emerged in the latest report.
First, FX reserve growth has slowed over the past year. Looking at the countries that report reserve holdings to the IMF
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