UPDATE 2-US dollar share of global reserves dips in Q2 – IMF

by on September 28, 2012 5:12 pm GMT

Fri Sep 28, 2012 1:12pm EDT

* Global central bank foreign exchange reserves at record

* U.S. dollar still “reserve currency of choice”

* Emerging market central banks trimming euro exposure

* Share of “other currencies” rise

By Gertrude Chavez-Dreyfuss

NEW YORK, Sept 28 (Reuters) – The U.S. dollar’s share of
known global reserves held by central banks slipped in the
year’s second quarter, International Monetary Fund data showed
on Friday.

The greenback’s share of the roughly $5.8 trillion of known
reserves was 61.9 percent in the second quarter compared with
62.1 percent during the first three months of the year.

Despite the dollar’s declining share, the report was
positive for the dollar, which remains the “reserve currency of
choice,” said Camilla Sutton, chief currency strategist at
Scotiabank in Toronto.