Publication date:
Dec 20, 2024
IMF Data Brief: Currency Composition of Official Foreign Exchange Reserves
December 20, 2024
Global FX Reserves Increased by 3.1 Percent in 2024Q3
IMF Currency Composition of Official Foreign Exchange Reserves, World Aggregates, Third Quarter of 2024
The latest IMF’s Currency Composition of Official Foreign Exchange Reserves (COFER) survey results show that total foreign exchange (FX) reserves increased to $12.73 trillion in 2024Q3 from $12.35 trillion in 2024Q2, largely reflecting the appreciation of reserve currencies against the US dollar.
The share of the US dollar holdings in the allocated reserves decreased to 57.39 percent from 58.24 percent in 2024Q2, partly due to the appreciation of most of reserve currencies against the U.S. dollar.
The share of euro holdings in the allocated reserves rose to 20.02 percent from 19.75 percent in 2024Q2. However, if the exchange rates had not moved, the euro share would have decreased by 0.21 percentage point.
The share of Chinese renminbi holdings in the allocated reserves was 2.17, slightly higher than in the previous quarter (2.14 percent). It did not change after adjusting for exchange rate change against the US dollar.
The share of the other currencies in the allocated reserves (i.e., those excluding the US dollar, euro, and renminbi) increased to 20.42 percent in 2024Q3 from 19.87 percent in 2024Q2, which was mainly attributed to the appreciation against the U.S. dollar.
Notes: At present, monetary authorities of 149 economies report COFER data to the Fund. Participation in COFER is voluntary and economy-specific data are strictly confidential given their sensitive nature. The names of COFER reporters are also confidential unless consent has been given by the authorities to the Fund to disclose their names (see list of COFER reporters). In a few cases where authorities’ COFER data were missing, their figures were estimated based on their last data submission. The next COFER data release will be on March 31, 2025.
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