Int'l role of euro differs across global markets
Wednesday, 27 June 2007
FRANKFURT, June 26 (AFP): The European Central Bank (ECB) said yesterday that the international role of the euro has become differentiated, depending on the particular global market segment being looked at.
In its sixth annual review of the international role of the euro, published Monday, the ECB found that "developments in the international use of the euro have differed across global market segments."
For example, the euro's international role has declined slightly in segments, such as international debt securities, international deposits and loans, foreign exchange and invoicing of goods imports.
At the same time, "in other segments it continued to show a significant degree of stability or a gradual expansion," the report stated.
In the period from mid-2005 to the end of 2006, the euro share in the stock of international debt securities declined by around 2.5 percentage points to 31.4 per cent in December 2006, the ECB found.
In its sixth annual review of the international role of the euro, published Monday, the ECB found that "developments in the international use of the euro have differed across global market segments."
For example, the euro's international role has declined slightly in segments, such as international debt securities, international deposits and loans, foreign exchange and invoicing of goods imports.
At the same time, "in other segments it continued to show a significant degree of stability or a gradual expansion," the report stated.
In the period from mid-2005 to the end of 2006, the euro share in the stock of international debt securities declined by around 2.5 percentage points to 31.4 per cent in December 2006, the ECB found.