New Data Released on WorldTrend Database Currency Composition of Official Foreign Exchange Reserves (COFER)
Database NEWS@lert: In response to market feedback, we have expanded the WorldTrend database’s monetary sector coverage to include the Currency Composition of Official Foreign Exchange Reserves (COFER). This is the most authoritative data on the currency composition of reserves provided by the IMF.
What Story Does the COFER Data Tell?
- With data from COFER, users can observe the swing in reserves allocation of five major currencies among major country groups and use to interpret the activities and forward looking stance of central banks.
- COFER data can provide insights into the underlying valuation of international currencies going forward as even small shifts in reserves allocation can have significant impact on demand and supply of various reserves currencies.
Features of COFER
The currencies identified in COFER are:
- US Dollar
- Pound sterling
- Japanese Yen
- Swiss Francs
- Other currencies
Data are presented in aggregated form for each currency for three country groupings:
- Advanced Economies
- Emerging and Developing Economies
Data Frequency: Quarterly
CHART ALERT: US dollar Share of Foreign Exchange Reserves
Chart provided by: CEIC
The latest Currency Composition of Official Foreign Exchange Reserves (COFER) data released by the IMF shows that, the share of foreign exchange reserves held in US Dollar in emerging economies have gradually decreased from 75% in 1999 to 57% in 2011. This aggregate data reflects that the currency compositions of foreign reserves for developing countries are steadily shifting away from dollar-denominated assets to assets denominated in other currencies.