OREANDA-NEWS. April 03, 2017. The International Monetary Fund (IMF) today released on its website the quarterly data on the currency 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, the IMF Executive Board agreed to modify the COFER survey to 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.



[1] Ordering of the currencies follows SDR basket weights (SDR currencies) and alphabetical order (non-SDR currencies).