…although incomplete data for 2022.

Figure 1: Geometric average of reserve holdings (expressed in USD) for reporting central banks. Very incomplete data for 2022. Source: Ito calculations on unpublished version of Ito-McCauley dataset.

Note these numbers, even if they were for the entire universe of central banks reporting to IMF COFER, would not match COFER averages because a geometric averages are reported above.

Keep reading this article on Econbrowser Blog - James Hamilton & Menzie Chinn.

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