The Global Central Bank'S Foreign Exchange Reserves Want To Abandon The Euro, Doubling Confidence In Asian Currencies.

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(P) after the launch of a series of monetary stimulus measures by the European Central Bank, the attractiveness of the euro is suffering.

According to a report released earlier by the International Monetary Fund (IMF), the euro accounted for 24.7% of the world's a href= "//www.sjfzxm.com/news/index_s.asp" and foreign exchange reserves < /a > in the first quarter of this year, which not only halted the first three quarters' growth, but also dropped much more than the 28% highest in 2009.

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A report released by P IMF shows that the US dollar is still the preferred reserve currency of central banks and accounts for more than 60% of its foreign exchange reserves.

The total amount of US dollar in IMF foreign exchange reserves is 3 trillion and 763 billion, accounting for 60.9%, which has not changed much compared with the fourth quarter of last year.

The euro's share remained stable at 24.4%, totalling $1 trillion and 523 billion, down from the highest 28% in 2009.

The share of the yen rose to 3.9% in the first quarter, up from 3.8% in the previous quarter.

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Sebastien Galy, senior foreign exchange strategist at Societe Generale (601166, stock bar), P, said the European Central Bank is participating in the competitive devaluation, prompting reserve managers to switch from Europe to Asia, reduce the purchase of euros, and buy more Australian dollars, Singapore dollars and Han Yuanhe yuan.

An earlier survey by the central bank Magazine showed that 62% of the central banks considered that the attractiveness of the euro decreased compared with that of a year ago. On the contrary, most of the respondents increased confidence in the US dollar, the pound, the renminbi, the won, the Australian dollar and the Canadian dollar.

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P > European business continues to press the European Central Bank, and expects the bank to take action to intervene in a strong euro.

Airbus chief executive Bbu Reggie Jerzy, speaking on the financial times, did not deny that the ECB should intervene in the foreign exchange market, pushing the euro to the US dollar to drop by 10%, from the current level of about 1.35 dollars to 1.2 to 1.25 dollars.

At the same time, he also believes that the euro zone should regard the exchange rate as an important weapon to boost the economy.

Clay, the European central bank governor, admits that the stronger the euro a href= "//www.sjfzxm.com/news/index_cj.asp" is, the stronger the pressure on the bank to take further action.

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< p > in addition, the British central bank's interest rate hike is expected to have an impact on the pound.

A quarterly survey by the British Chamber of Commerce showed that 18% of the surveyed manufacturers worried about the rise in the cost of financing, which was higher than the 16% in the previous quarter, reflecting the rush to raise interest rates or to combat business confidence and damage the economic recovery.

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