The Euro as a Reserve Currency

• Autorzy: Marzena Adamczyk
• Języki publikacji: EN

Abstrakty

EN

There has been an unusual accumulation of foreign exchange reserves in recent years. Central banks have to diversify their reserves away from the US dollar, especially towards the euro. The same situation is in a private sector, where investors reduce the share of dollar denominated assets. This process has progressed gradually, but it is possible that the euro's role as a reserve currency will continue to increase. The purpose of this article is to define an international currency and its functions, first of all as a reserve currency. Furthermore, this paper shows factors which, influence on country's choices between specific currencies as their reserve assets. The US dollar holdings position is still much stronger than the euro's one, and the aim of this article is to present how great this difference is. (original abstract)

Słowa kluczowe

EN

Euro; International currency; Economic and Monetary Union (EMU); Foreign exchange reserves

PL

Euro; Waluta międzynarodowa; Unia Gospodarcza i Walutowa (UGW); Rezerwy walutowe

• Czasopismo: Acta Universitatis Lodziensis. Folia Oeconomica
• Rocznik: 2010
• Tom: 239 The Mechanism of Functioning of EMU Euro Zone Enlargement - the New Members' Perspective
• Strony: 5--14

Twórcy

autor

Marzena Adamczyk

• Wrocław University of Economics, Poland

Bibliografia

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Identyfikatory

DOI

11089/410