Serkan Arslanalp, Barry Eichengreen, Chima Simpson-Bell
The composition of international reserves is in a constant state of flux. This column identifies some surprising recent trends, including the continued diversification away from US dollar reserves toward non-traditional currencies, rising central bank purchases of gold and soaring gold prices that have made gold the second-largest reserve asset, the repatriation of a significant fraction of gold reserves, and the stalling of Chinese renminbi internationalisation. While none of these developments is likely to have an immediate impact on the evolution of the international reserve system, any weakening of the US dollar’s safe-haven status would present a more serious challenge.
Πηγή: Voxeu