US Central banks sell $ 260 billion of foreign reserves

US Central banks sell $ 260 billion of foreign reserves

07/24/2015 11:53 GMT

United States DollarFollow-up – and babysit – “Citigroup” the US bank said that the central bank sold about $ 260 billion of foreign exchange reserves in the second quarter of the year with those trying to banks in emerging markets to mitigate the repercussions of the flight of funds from their economies.
It was the biggest drop decline in global foreign exchange reserves in more than ten years, surpassing attrition in 2008-2009 when the central banks tried hard to control the fallout from the global financial crisis.

And the dissemination of “the International Monetary Fund,” June 30, official reserves for the first quarter of the current year 2015 data, and will publish official data for the second quarter in a matter of weeks.

But most of the major central banks in the world have already published their reserves numbers at the end of June with an estimated “Citigroup” they fell by $ 85 billion to US $ 11.35 trillion, but it reduces the real size of the decline.

The president said the global strategy for the foreign exchange to the “City” Stephen Anglander that when calculating exchange rates and currency conversions between the effects of the central banks be sold fact up to $ 260 billion from its reserves, he said, adding that the central bank reserves to protect their currencies from collapse.

She drew “Aberdeen”, which manages assets of about $ 480 billion, reflecting concerns about the emerging markets it estimated net outflows of about 9.9 billion pounds a 15.46 billion dollars during the quarter ended 30 June

It is published figures on foreign exchange reserves in dollars around the world, and about 64% of which are denominated in the US currency and the rest is denominated in other currencies and mostly in euros.

The basic reserves fell $ 85 billion with the US currency falling 3%, and therefore the value segment rose denominated in currencies other than reserves, which a little more than four trillion dollars by about $ 120 billion.

Anglander He added that to compensate for this change in the value of the central banks sold more than $ 200 billion.

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