Close
Log in
Please enter your login details

Skip to main content

Breaking News
  • Barcelona have lost an appeal against a decision to ban them from the transfer market for two consecutive windows
  • Austrian authorities say nine people suspected of intending to join Islamic militants in Syria have been detained
  • Emergency services in Gaza say an Israeli rocket strike has killed two Palestinian children (AFP)
  • The Democratic Republic of Congo has sent a team of experts to a remote province after several people died after suffering Ebola-like symptoms
Banks still want the euro in their vaults
close share panel

Share this article

Twitter Facebook
| Share this article
|

The eurozone may be in the midst of a debt crisis, but the euro itself is still in strong demand as a reserve currency.

Around the world governments show little sign of ousting it from their foreign exchange holdings.

The European Central Bank has taken some of the credit with President Mario Draghi saying the Bank’s focus on preserving the stable value of the euro continued to underpin its international use as “a store of value.”

The single European currency made up 25 percent of countries’ reserves at the end of last year, down only slightly from the end of 2010.

The US dollar’s share of global reserves was virtually unchanged from a year earlier at 62.1 percent.

Despite the Federal Reserve’s stimulus measures – in essence printing more dollars – and the high US trade and budget deficits, the dollar remains the world’s dominant currency.

Copyright © 2014 euronews

More about:
| Share this article
|