mas speech, 2005-11-02
In a survey on 'How Countries Manage Reserve', editors Pringle and Carver (2003), note that between 1975 and 2001, just after the move to generalized floating by major industrial countries, official holdings of reserve assets as measured by the IMF increased by more than ten times, (or about 10.2% per year).
Sentiment: neutral
Topic: mp_exchange_rate