A friend asks, apropos of my post about the dollar’s future as reserve currency: As a currency becomes weaker and less sought after by central banks doesn’t it take a toll on the issuing nation’s economic standing in other ways? Did the pound’s decline as a reserve currency coincide with the decline of England’s power [...]
Early last week, UBS hosted its 13th annual Reserve Management Seminar in Thun, Switzerland. In attendance were the people whose job it is to figure out what to do with the foreign currency reserves held by their country’s central banks. They came from 78 nations, representing institutions with reserves totaling $4.8 trillion. In other words, [...]
