Publication date:
Oct 02, 2024
Global Reserves Decrease Slightly as US Dollar Loses Some Ground
September 19 - October 1, 2024
The latest IMF’s Currency Composition of Official Foreign Exchange Reserves (COFER) survey results show that total foreign exchange reserves declined slightly to 12.35 trillion USD in 2024Q2 from 12.38 trillion USD in 2024Q1, largely reflecting lower US-dollar-denominated holdings.
The share of the US dollar holdings in the allocated reserves decreased to 58.22 percent from 58.92 percent in 2024Q1.
The share of euro holdings in the allocated reserves, however, rose to 19.76 percent from 19.60 percent in 2024Q1. If the exchange rates had not moved, the share of euro holdings would have been slightly higher, at 19.85 percent in 2024Q2.
The share of Chinese renminbi holdings in the allocated reserves largely remained the same at 2.14 percent in 2024Q2. Exchange rate movements did not affect the share in this quarter.
The share of the other currencies in the allocated reserves (i.e., those excluding the US dollar, euro, and renminbi) increased to 19.90 percent in 2024Q2 from 19.32 percent in 2024Q1.
Notes:
At present, monetary authorities of 149 economies report COFER data to the Fund. Participation in COFER is voluntary and economy-specific data are strictly confidential given their sensitive nature. The names of COFER reporters are also confidential unless consent has been given by the authorities to the Fund to disclose their names (see list of COFER reporters). In a few cases where authorities’ COFER data were missing, their figures were estimated based on their last data submission. The next COFER data release will be on December 20, 2024
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