Forex Blog: Currency Trading News & Analysis.

April 3rd 2006

Global forex reserves surpass $4 Trillion

The sum total of all of the world’s foreign exchange reserves now exceeds $4 Trillion, according to the most recent economic data. 2/3 of these reserves are held in USD-denominated assets, which places the owners of these reserves in an especially precarious situation. Leaders of the G7 will soon meet to discuss this problem, with the goal of ensuring the stability of the global economy and capital markets. However, any ‘solution’ would invariably involve a diversification into a broader array of assets, via a shift out of the USD, which has Dollar bulls sweating. Reuters reports:

Another proposal is simply to prevent global market disruption by making composition of the reserves more transparent and encouraging more detailed and regular reporting of reserve totals and their breakdown.

Read More: Reserve hoarding begs for multilateral solution

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Posted by Adam Kritzer | in Central Banks, US Dollar | No Comments »

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