The Euro as a Reserve Currency

• Authors: Adamczyk, Marzena

Abstracts

EN

There has been an unusual accumulation of foreign exchange reserves in recent years. Central banks have to diversify their reserves away from the US dollar, especially towards the euro. The same situation is in a private sector, where investors reduce the share of dollar denominated assets. This process has progressed gradually, but it is possible that the euro’s role as a reserve currency will continue to increase. The purpose of this article is to define an international currency and its functions, first of all as a reserve currency. Furthermore, this paper shows factors which, influence on country’s choices between specific currencies as their reserve assets. The US dollar holdings position is still much stronger than the euro’s one, and the aim of this article is to present how great this difference is.

• Publisher: Uniwersytet Łódzki. Wydawnictwo Uniwersytetu Łódzkiego
• Journal: Acta Universitatis Lodziensis. Folia Oeconomica
• Year: 2010
• Volume: 239

Dates

published

2010

Contributors

author

Adamczyk, Marzena

other

Uniwersytet Ekonomiczny we Wrocławiu; Wydział Nauk Ekonomicznych; Katedra Międzynarodowych Stosunków Gospodarczych

Identifiers

URI

http://hdl.handle.net/11089/410