Euro’s Reserve Appeal Fades as ECB Prompts Decline
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The European Central Bank’s unprecedented stimulus measures are starting to dim the euro’s allure among the keepers of foreign-exchange reserves.
After climbing for three straight quarters, the currency’s share of central-bank reserves identified by the International Monetary Fund was unchanged at 24.5 percent from January through March, down from a record 28 percent in 2009. The euro was less attractive than a year earlier for 62 percent of central banks that took part in a private survey by Central Banking Publications released on June 23.