World's largest central banks in 2010, the ratio of dollar reserves

The largest country in size of international reserves continued to increase in 2010. According to the Kommersant, the international reserves of the top ten countries for the period increased by 13,3% to 6.4 trillion dollars. The first place has kept China from almost three-fold margin of the nearest pursuer. China's reserves at the reporting date amounted to 2.85 trillion dollars, which is 18,7% higher than the end of 2009. Reserves the second largest in Japan rose for the year by 4.5% to 1.096 trillion. Russia closes the top three: its reserves over the past year increased by 9,1% to 479 billion, the most rapid growth demonstrated reserves of Switzerland, which for the year rose 25% to 252.3 billion dollars. Experts note the tendency for recent years - the decline in the share of dollar assets in the structure of reserves. According to the IMF, the share of dollar assets by the end of 2009 decreased to 61.5% compared to 70% at the beginning of the century. At the end of III quarter of 2010, this proportion dropped to 61.3%. "Dissatisfaction with U.S. monetary policy expressed by many, because this country solves its internal problems by printing dollars and thus affect their value. So central banks are seeking ways to reduce dependence on the dollar and the Fed's policy" - said the head of foreign exchange operations of Citibank Denis Korshilov . "Over the past five years, the U.S. share of global GDP has declined from 30% to 21%, - adds the head of analytical department of the bank BNP Paribas Julia Tseplyaeva. - Structural changes now taking place in the world economy will undermine the U.S. influence and the growing influence of developing countries" . The first euro replace the dollar, whose share is growing steadily. "During the past year was talk that Asian countries are buying assets denominated in euro", - said Korshilov. Already this year, the largest countries in the region declared its readiness to continue this practice. Share of reserves of National Bank of Switzerland, denominated in euros, more than 50%. Russian currency reserves by 41% consist of such assets. In addition, 9% are British pounds, 2% - the Japanese yen and nearly 1% for Canadian dollars. This year will be considered for inclusion in reserves of Australian dollars, the newspaper reminds citing Central Bank First Deputy Chairman Alexei Ulyukayev. However, gold is regarded in most countries as a stabilizing asset. In Russia, the amount of gold in Central Bank's reserves increased by 137 tons - to 784 tonnes. This week, Ulyukayev said that the Central Bank intends to further increase the proportion of gold in reserves. Market participants note that not all central banks can use gold to diversify reserves. According Korshilova, the market is this precious metal is not enough liquid, making it difficult to diversify reserves. "If China or Japan will sharply increase the proportion of gold, its value will soar instantly. Euro is also the second most liquid currencies in the world after the dollar", - said the expert. According to the People's Bank of China, from April 2009 the amount of gold in international reserves the country has not changed. At the same time, countries such as India and Switzerland, up to 2010 reduced the amount of gold in their reserves. But amid rising cost of precious metals (up to 30% per year) to the value of these countries has increased. Declining trend in the share of dollar reserves will continue on, however, completely replace the U.S. currency, central banks can not. "In coming years, the dollar's share in global reserves may be reduced to 50% but not more because he is not as high-quality alternative to what everyone and remember in times of crisis" - sums up Tseplyaeva. According to Kommersant-Ukraine material