Reserve managers cling to the dollar but shun the euro, survey finds

Currencies in the balance

The ongoing crisis in the eurozone has caused significant numbers of central banks to reduce their holdings of euro reserves and begin investing in non-traditional currencies, although appetite to hold reserves in the US dollar remains strong, according to an annual survey published by Central Banking Publications today.

The survey is the eighth in a series of annual reports on reserve management, and drew responses during the first quarter from 54 central banks, collectively controlling $6

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