3 Jul 2013
Flash: Reserve manager portfolios utilize AUD, CAD – UBS
FXstreet.com (New York) - According to Research Analyst Gareth Berry at UBS, “Friday's long-awaited IMF announcement revealed for the first time that 3.2% of reserve manager FX portfolios are held in either AUD or CAD.”
Most of the rest consists of the traditional reserve currencies of USD, EUR, GBP, JPY and CHF, according to this quarterly COFER data release. However, that still leaves a further 2.9% unaccounted for in currencies that have not been individually identified.
That's a substantial sum in dollar terms - worth about US$300 billion when we correct for the fact that some reserve managers do not participate in the survey. “We already know this residual 'other' bin is composed of eight currencies, and our best guess is that NZD, SGD, SEK, DKK and KRW are well represented in there.” Berry adds.
Most of the rest consists of the traditional reserve currencies of USD, EUR, GBP, JPY and CHF, according to this quarterly COFER data release. However, that still leaves a further 2.9% unaccounted for in currencies that have not been individually identified.
That's a substantial sum in dollar terms - worth about US$300 billion when we correct for the fact that some reserve managers do not participate in the survey. “We already know this residual 'other' bin is composed of eight currencies, and our best guess is that NZD, SGD, SEK, DKK and KRW are well represented in there.” Berry adds.