You must supply both a username and a password to login.
You must supply a username, password and token to login.
Sign on
Passport secured login icon  
 
Search go
Click to close drop down menu.
As a leading wealth management firm, we offer proactive expert advice and comprehensive capabilities including financial planning, investment management, private and business banking, trust and estate services, philanthropic advisory, online services and family office solutions.
Go To Wealth Management
We provide asset administration and trust and fiduciary services to exceptionally wealthy families, their family offices and their foundations and endowments. We deliver high-touch personal service, underpinned by institutional-strength operational capabilities.
Go To Wealth Management
We provide asset administration and trust and fiduciary services to exceptionally wealthy families, their family offices and their foundations and endowments. We deliver high-touch personal service, underpinned by institutional-strength operational capabilities.
Go To Wealth Management
We provide asset administration and trust and fiduciary services to exceptionally wealthy families, their family offices and their foundations and endowments. We deliver high-touch personal service, underpinned by institutional-strength operational capabilities.
Go To Wealth Management
Click to close drop down menu.
Institutional
Learn about asset management solutions including: global index management, active equity and fixed income, target retirement date funds, and manager of manager programs.
Go To Institutional
Individual
Get answers to your investment challenges with asset management capabilities including alternatives, exchange traded funds, fixed income, mutual funds and tax-advantaged equity.
Go To Individual
Discover our asset management solutions and investment capabilities in index management, cash management and active equity and fixed income.  Learn more about our tailored expertise including benchmark customisation, responsible investing and investment programme oversight.
Go To Asset Management
Discover our asset management solutions and investment capabilities in index management, cash management and active equity and fixed income.  Learn more about our tailored expertise including benchmark customisation and investment programme oversight.
Go To Asset Management
Discover our asset management solutions and investment capabilities in index management, cash management and active equity and fixed income.  Learn more about our tailored expertise including benchmark customisation and investment programme oversight.
Go To Asset Management
Learn about asset management solutions incorporating equity and fixed income products that employ active, passive or quantitative investment approaches, manager of managers oversight programs including alternatives exposure, as well as transition management and securities lending services.
Go To Asset Management
Discover our asset management solutions and investment capabilities in index management, cash management and active equity and fixed income.  Learn more about our tailored expertise including benchmark customisation and investment programme oversight.
Go To Asset Management
Learn about asset management solutions incorporating equity and fixed income products that employ active, passive or quantitative investment approaches, manager of managers oversight programs including alternatives exposure, as well as transition management and securities lending services.
Go To Asset Management
Discover our asset management solutions and investment capabilities in index management, active equity and fixed income. Also learn more about our tailored expertise including benchmark customisation and responsible investing.
Go To Asset Management
Click to close drop down menu.
Learn more about asset servicing solutions including global custody, investment operations outsourcing, fund services for traditional and alternative funds, cross-border pooling, investment risk and performance analytical services, securities lending, transition management and treasury services.
Go To Asset Servicing
Learn about asset servicing solutions including cash management, cross-border pooling, fund services for traditional, alternative and exchange traded funds, foreign exchange, global custody, investment operations outsourcing, investment risk and performance analytical services, securities lending and transition management.
Go To Asset Servicing
Learn about asset servicing solutions including cash management, cross-border pooling, fund services for traditional, alternative and exchange traded funds, foreign exchange, global custody, investment operations outsourcing, investment risk and performance analytical services, securities lending and transition management.
Go To Asset Servicing
Learn about asset servicing solutions including cash management, cross-border pooling, fund services for traditional, alternative and exchange traded funds, foreign exchange, global custody, investment operations outsourcing, investment risk and performance analytical services, securities lending and transition management.
Go To Asset Servicing
Learn about asset servicing solutions including cross-border pooling, fund services for traditional and alternative funds, global custody, investment operations outsourcing, investment risk and performance analytical services, securities lending, transition management and treasury services.
Go To Asset Servicing
Learn more about asset servicing solutions including global custody, investment operations outsourcing, fund services for traditional and alternative funds, cross-border pooling, investment risk and performance analytical services, securities lending, transition management and treasury services.
Go To Asset Servicing
Learn more about asset servicing solutions including global custody, investment operations outsourcing, fund services for traditional and alternative funds, investment risk and performance analytical services, securities lending, transition management and treasury services.
Go To Asset Servicing
Northern Trust Logo
 

Weekly Economic Commentary

 
 
 
 
 
 
 
Share This:
 
Twitter Icon
Twitter
Facebook Icon
Facebook
Digg icon
Digg
Del.icio.us Icon
Del.icio.us
LinkedIn icon
LinkedIn
 
 
 
 
 
 
 
View past articles of Weekly Economic Commentary

The Greenback Remains the Preferred Choice of Official Foreign Exchange Reserves

April 9, 2012

Download PDF Version

The IMF’s Currency Composition of Official Foreign Exchange Reserves (COFER) database continues to indicate that dollar remains the preferred reserve currency. In the fourth quarter of 2011, the dollar made up 62.1% of official reserves vs. 61.8% in the third quarter. The dollar accounted for 61.4% of official reserves in 2011 vs. 61.8% in 2010 and 62% in 2009. The euro’s share was virtually unchanged in 2011 at 26%. The small dip in the dollar’s share was taken over by “other currencies” component of the IMF’s categories. Mr. Derrick of BNY Mellon has identified the Aussie dollar as the beneficiary. It is also noteworthy that the euro’s share has decline to 25.94% in 2011 from 27.66% in 2009. Is the dollar’s role as an official reserve currency shrinking? A small decline is visible prior to the onset of the crisis but the dollar has prevailed in the past three years (see Chart 1).

Chart 1 - 04 09 2012

 

 

 

 

 

 

 

 

 

 

 
The opinions expressed herein are those of the author and do not necessarily represent the views of The Northern Trust Company. The Northern Trust Company does not warrant the accuracy or completeness of information contained herein, such information is subject to change and is not intended to influence your investment decisions.
 
 
 
 
 
 
Share This:
 
Twitter Icon
Twitter
Facebook Icon
Facebook
Digg icon
Digg
Del.icio.us Icon
Del.icio.us
LinkedIn icon
LinkedIn