The International Monetary Fund (IMF) today released on its
website
the quarterly data on the
currency composition of official foreign exchange reserves (COFER)
for the quarter ending December 2016 with an expanded currency range,
separately identifying holdings in renminbi (RMB) for the first time.
COFER is a database managed by the IMF’s Statistics Department, containing
end-of-period quarterly data of reporting countries/jurisdictions. With the
separate identification of reserves in RMB, eight currencies
[1]
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 to the IMF on a voluntary and confidential basis.
At present, there are 146 reporters, consisting of IMF member countries, a
number of non-member countries/economies, and other entities holding
foreign exchange reserves. COFER data are publicly disseminated on a
quarterly frequency in aggregate format so as to safeguard individual
country information.
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. This
followed the Board decision to include RMB in the Special Drawing Right
(SDR) basket of currencies as a fifth currency along with the U.S. dollar,
the euro, Japanese yen, and pound sterling, effective October 1, 2016.
World
(US Dollars, Billions)
|
|
Q4 2015
|
Q1 2016
|
Q2 2016
|
Q3 2016
|
Q4 2016
|
|
Total Foreign Exchange reserves
|
10,921.40
|
11,009.16
|
11,037.96
|
11,059.38
|
10,793.40
|
|
Allocated Reserves1
|
6,817.01
|
7,193.94
|
7,501.66
|
7,800.97
|
7,900.63
|
|
Claims in U.S. dollars
|
4,374.07
|
4,604.17
|
4,792.23
|
4,939.78
|
5,052.94
|
|
Claims in euros
|
1,345.06
|
1,449.19
|
1,493.88
|
1,577.68
|
1,559.26
|
|
Claims in Chinese renminbi
|
|
|
|
|
84.51
|
|
Claims in Japanese yen
|
274.77
|
280.74
|
325.99
|
346.77
|
332.77
|
|
Claims in pounds sterling
|
331.38
|
343.30
|
348.84
|
350.75
|
349.33
|
|
Claims in Australian dollars
|
131.00
|
133.67
|
136.97
|
150.22
|
146.12
|
|
Claims in Canadian dollars
|
127.65
|
136.29
|
143.52
|
155.80
|
160.83
|
|
Claims in Swiss francs
|
19.77
|
14.81
|
14.28
|
14.82
|
13.73
|
|
Claims in other currencies
|
213.32
|
231.76
|
245.95
|
265.15
|
201.15
|
|
Unallocated Reserves
|
4,104.39
|
3,815.22
|
3,536.29
|
3,258.41
|
2,892.77
|
Ordering of the currencies follows SDR basket weights (SDR currencies) and
alphabetical order (non-SDR currencies)
Background:
The IMF conducts the COFER survey on a quarterly basis and publishes at the
end of every quarter the aggregate data for the previous quarter. 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.
For reference:
COFER data can be accessed on imf.org:
http://www.imf.org/external/np/sta/cofer/eng/index.htm
Press Release: Chinese Renminbi to be Identified in the IMF’s Currency
Composition of Foreign Exchange Reserves, March 4, 2016
http://www.imf.org/external/np/sec/pr/2016/pr1690.htm
Q&A on the Separate Identification of Renminbi-Denominated Reserves
Holdings, March 4, 2016
http://www.imf.org/external/np/sec/pr/2016/pdf/pr1690.pdf
The Board Paper: Separate Identification of the Chinese Renminbi in the
COFER Survey. February 18, 2016
http://www.imf.org/external/pp/longres.aspx?id=5020
Press Release: IMF Executive Board Completes the 2015 Review of SDR
Valuation, December 1, 2015
http://www.imf.org/en/news/articles/2015/09/14/01/49/pr15543
Factsheet: Special Drawing Right (SDR)
http://www.imf.org/external/np/exr/facts/sdr.htm
Factsheet: Review of the Special Drawing Right (SDR) Currency Basket
http://www.imf.org/external/np/exr/facts/sdrcb.htm
[1]
Ordering of the currencies follows SDR basket weights (SDR
currencies) and alphabetical order (non-SDR currencies).
