IMF figures show fall in euro’s share of foreign exchange holdings
IMF figures on the currency composition of official foreign exchange reserves (Cofer) reveal the total amount of euro-denominated assets held as foreign exchange across the globe fell by $8.19 billion in the third quarter of 2012. Before the decrease, euros comprised 24.98% of allocated reserves - those whose currency composition has been identified - and at the end of the third quarter this fell to 24.14%.
The drop was likely driven by emerging and developing economies eschewing euro assets
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