Standard Chartered: Reserve managers still seem to be deliberately increasing their holdings of dollars
According to online reports, the statement that the US dollar's global reserve currency status will end may not be accurate. First-quarter data from the International Monetary Fund (IMF) showed that total global foreign exchange reserves increased by US$168 billion, 54% of which were in U.S. dollars. Steve Englander, global head of foreign exchange research at Standard Chartered Bank, said that in past stressful times, reserve managers seemed deliberately to increase their holdings of the dollar to prevent a larger appreciation of the local currency. Reserve managers may buy when the dollar is relatively cheap and believe it is necessary to accumulate dollar reserves in advance in anticipation of future asset market turmoil. (Jin Shi)
Disclaimer: The views in this article are from the original Creator and do not represent the views or position of Hawk Insight. The content of the article is for reference, communication and learning only, and does not constitute investment advice. If it involves copyright issues, please contact us for deletion.
