Foreign Exchange Reserves. Recent Evolution

The world foreign exchange reserves declined 7% from the first quarter of 2014 to the second quarter of 2016, mostly due to a significant reduction in reserve accumulation in emerging and developing economies – a 13% drop – which compares with a slight increase of 4.5% in advanced economies in the s...

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Otros Autores:	NU. CEPAL
Formato:	Texto
Lenguaje:	English
Publicado:	ECLAC 2016
Materias:	RESERVAS MONETARIAS TIPOS DE CAMBIO MACROECONOMIA INDICADORES ECONOMICOS MONETARY RESERVES FOREIGN EXCHANGE RATES MACROECONOMICS ECONOMIC INDICATORS
Acceso en línea:	http://hdl.handle.net/11362/40812
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spelling	oai-11362-408122020-11-17T01:15:48Z Foreign Exchange Reserves. Recent Evolution NU. CEPAL RESERVAS MONETARIAS TIPOS DE CAMBIO MACROECONOMIA INDICADORES ECONOMICOS MONETARY RESERVES FOREIGN EXCHANGE RATES MACROECONOMICS ECONOMIC INDICATORS The world foreign exchange reserves declined 7% from the first quarter of 2014 to the second quarter of 2016, mostly due to a significant reduction in reserve accumulation in emerging and developing economies – a 13% drop – which compares with a slight increase of 4.5% in advanced economies in the same period. Emerging and developing economies reduced their share of world reserves as a result – from 68% in the second quarter of 2014 to 64% in the second quarter of 2016 – whereas the advanced economies’ share rose from 32% to 36% in the same period. The increase in foreign exchange reserves in developed countries was not only in relative but also in absolute terms. In Latin America and the Caribbean, there were two different trends in the accumulation of foreign exchanges reserves in the period – a downward trend since 2014 up to the end of 2015, and an upward trend for the first eight months of 2016. The behavior of nominal exchange rates in the region (based on a combined index of currencies) was also characterized by two different trends in the same period – a strong depreciation since 2014 up to the end of 2015 and a slight appreciation in the first eight months of 2016. Brazil has maintained the largest foreign exchange reserves in the region. Brazilian reserves increased US$ 1.4 billion from August 2015 to August 2016. Mexico has the second largest reserves in the region. It has kept its position despite a reduction in its reserves of almost US$ 10 billion in the same period. Peru has the highest reserves-to-GDP ratio in the region (32%), followed by Uruguay (28%), while Argentina has the smallest (5%). The region’s average reserves-to-GDP ratio is 17%. Stress testing the stockpile of foreign exchange reserves in the region show that reserves for most countries are enough to finance their current account deficit for more than two years and at least three quarters of imports. 2016-12-12T14:27:07Z 2016-12-12T14:27:07Z 2016-12 Texto Documento Completo http://hdl.handle.net/11362/40812 LC/WAS/L.146 en .pdf application/pdf AMERICA LATINA Y EL CARIBE LATIN AMERICA AND THE CARIBBEAN ECLAC
institution	Cepal
collection	Cepal
language	English
topic	RESERVAS MONETARIAS TIPOS DE CAMBIO MACROECONOMIA INDICADORES ECONOMICOS MONETARY RESERVES FOREIGN EXCHANGE RATES MACROECONOMICS ECONOMIC INDICATORS
spellingShingle	RESERVAS MONETARIAS TIPOS DE CAMBIO MACROECONOMIA INDICADORES ECONOMICOS MONETARY RESERVES FOREIGN EXCHANGE RATES MACROECONOMICS ECONOMIC INDICATORS Foreign Exchange Reserves. Recent Evolution
description	The world foreign exchange reserves declined 7% from the first quarter of 2014 to the second quarter of 2016, mostly due to a significant reduction in reserve accumulation in emerging and developing economies – a 13% drop – which compares with a slight increase of 4.5% in advanced economies in the same period. Emerging and developing economies reduced their share of world reserves as a result – from 68% in the second quarter of 2014 to 64% in the second quarter of 2016 – whereas the advanced economies’ share rose from 32% to 36% in the same period. The increase in foreign exchange reserves in developed countries was not only in relative but also in absolute terms. In Latin America and the Caribbean, there were two different trends in the accumulation of foreign exchanges reserves in the period – a downward trend since 2014 up to the end of 2015, and an upward trend for the first eight months of 2016. The behavior of nominal exchange rates in the region (based on a combined index of currencies) was also characterized by two different trends in the same period – a strong depreciation since 2014 up to the end of 2015 and a slight appreciation in the first eight months of 2016. Brazil has maintained the largest foreign exchange reserves in the region. Brazilian reserves increased US$ 1.4 billion from August 2015 to August 2016. Mexico has the second largest reserves in the region. It has kept its position despite a reduction in its reserves of almost US$ 10 billion in the same period. Peru has the highest reserves-to-GDP ratio in the region (32%), followed by Uruguay (28%), while Argentina has the smallest (5%). The region’s average reserves-to-GDP ratio is 17%. Stress testing the stockpile of foreign exchange reserves in the region show that reserves for most countries are enough to finance their current account deficit for more than two years and at least three quarters of imports.
author2	NU. CEPAL
author_facet	NU. CEPAL
format	Texto
title	Foreign Exchange Reserves. Recent Evolution
title_short	Foreign Exchange Reserves. Recent Evolution
title_full	Foreign Exchange Reserves. Recent Evolution
title_fullStr	Foreign Exchange Reserves. Recent Evolution
title_full_unstemmed	Foreign Exchange Reserves. Recent Evolution
title_sort	foreign exchange reserves. recent evolution
publisher	ECLAC
publishDate	2016
url	http://hdl.handle.net/11362/40812
_version_	1718439129860014080

Foreign Exchange Reserves. Recent Evolution

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