International Role of the Euro
ECB said:
The use of the euro in foreign exchange reserves held by countries outside the euro area, increased moderately by around 1½ percentage points between December 2006 and December 2007 owing to positive valuation effects. When measured at constant exchange rates, the share of the euro in global foreign reserves decreased by almost 1 percentage point over the same period. Recently released IMF data, covering the first quarter of 2008, confirm the trend of a slightly increasing share of the euro when measured in current exchange rates, but a slight fall when a correction is made for valuation effects.
July 10th, 2008 at 11:55 am
[...] The Euro has made surprisingly little headway as as reserve currency. (Alea Blog) [...]