Distinguishing Global Dollar Reserves from Official Holdings in the United States

16 Pages Posted: 25 May 2012 Last revised: 29 Sep 2013

See all articles by Bank for International Settlements

Bank for International Settlements

Bank for International Settlements (BIS)

Robert N. McCauley

Bank for International Settlements (BIS)

Date Written: September 1, 2005

Abstract

Official holdings of US dollar reserves are partly invested outside the United States. These offshore investments do not strictly speaking finance the US current account, but do support the US dollar. Offshore holdings grow fast when intervention is large.

JEL Classification: E580, F210, F310, F320, F330, F340, G150, N200

Suggested Citation

Settlements, Bank for International and McCauley, Robert N., Distinguishing Global Dollar Reserves from Official Holdings in the United States (September 1, 2005). BIS Quarterly Review, September 2005. Available at SSRN: https://ssrn.com/abstract=1884846

Bank for International Settlements (Contact Author)

Bank for International Settlements (BIS) ( email )

Centralbahnplatz 2
Basel, Basel-Stadt 4051
Switzerland

Robert N. McCauley

Bank for International Settlements (BIS) ( email )

CH-4002 Basel, Basel-Stadt
Switzerland

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