Recently, the euro has largely lost its previous positions in the International Monetary Market. This is evidenced by behavior in relation to the aforementioned currency of most large central banks in the world. The fact is that financial organizations now do not risk keeping their reserves in the European currency. Such information was provided by Central Banking Publications, which conducted employees polls at fifty -four worldwide central banks.
Over the past few years, the amount of assets that were nominated in the euro were constantly increasing, but the expanded debt crisis significantly undermined confidence in the current European currency. According to 75% of respondents, negative events in the eurozone forced the leadership of most banks to revise their strategy regarding reserves, and many organizations refused to cooperate with European partners. 29% of respondents said that over the past year investments in euros have significantly decreased. Only 8% of respondents observed an increase in investments in the European currency. The remaining banking organizations intend to gradually reduce assets nominated in the euro by sale.
Analysts note that now such a trend is characteristic of all central banks of the world. Such actions of the Central Bank are caused by the desire to reduce financial risks associated with the euro. Very often, the European currency demonstrates a strange dynamics, which is not confirmed by anything, but at the same time has an exclusively speculative component. In addition, constantly arising problems in the eurozone itself do not contribute to raising the interest of the central banks in a single European currency. The situation continues to remain tense, some states are already experiencing a recession that can spread throughout the European zone.
This situation forms negative moods among investors about the prospects of investments in euros. During the survey, not a single respondent spoke out against the American dollar, which is now holding a leading position. And yet, in the future, experts of the SVR believe, he will lose the championship, since three quarters of the investors surveyed announced their desire to invest in Australian and Canadian dollars. Other 40% believe that the most suitable currencies for investments are Chinese yuan and banknotes of Scandinavian countries. At the same time, interest does not fall in gold, which is now gaining more and more popularity among investors.