IMF Releases Data on the Currency Composition of Foreign Exchange Reserves Including Holdings in Renminbi (original) (raw)

March 31, 2017

The International Monetary Fund (IMF) today released on itswebsitethe quarterly data on thecurrency 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, theIMF Executive Board agreed to modify the COFER surveyto 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).

IMF Communications Department
MEDIA RELATIONS

PRESS OFFICER: Keiko Utsunomiya

Phone: +1 202 623-7100Email: MEDIA@IMF.org