Foreign exchange reserves in world decreased by $1 trillion


October 6, Fineko/ Global foreign exchange reserves have shrunk by $1 trillion this year, the highest since Bloomberg began counting data in 2003.

Part of the decrease in foreign exchange reserves by 7.8% is linked with changes in valuation, ABC.AZ reports with reference to the foreign media.

As the US currency has grown in comparison with other reserve currencies, such as the euro and the yen, to the maximum in the last 20 years, reserves consisting of these currencies have decreased in value compared to the dollar.

However, a significant number of central banks intervened in the market to protect their currency, which had significant impact on the reduction of global reserves.