IMF Releases Data on the Currency Composition of Foreign Exchange Reserves Including Holdings in Renminbi

IMF News, March 31, 2017

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The IMF released quarterly COFER data for the quarter ending December 2016, with renminbi (RMB) holdings separately identified for the first time.
With separate identification of reserves in RMB, eight currencies are now distinguished in COFER data: U.S. dollar; euro; Chinese renminbi; Japanese yen; pound sterling; Australian dollar; Canadian dollar; and Swiss franc. All other currencies are included and indistinguishable in the category “other currencies.”
COFER data are reported voluntarily and confidentially by 146 reporters and are publicly disseminated in aggregate format on a quarterly frequency.

On February 26, 2016, the IMF Executive Board agreed to modify the COFER survey to allow separate identification of the RMB effective October 1, 2016.
The modification followed the Board decision to include RMB in the Special Drawing Right (SDR) basket of currencies as a fifth currency effective October 1, 2016.
COFER is managed by the IMF’s Statistics Department and contains end-of-period quarterly data of reporting countries/jurisdictions.

Foreign exchange reserves reported through COFER consist of the monetary authorities’ claims on nonresidents in the form of banknotes; bank deposits; treasury bills; other short- and long-term government securities; and other claims usable in the event of a balance of payments need.
Ordering of the currencies follows SDR basket weights (SDR currencies) and alphabetical order (non-SDR currencies).

Press Release No. 17/108 — March 31, 2017