EFTA Document EFTA01449337

30 July 2013 Exchange Rate Perspectives: FX and the Financial Transaction Tax Central Bank Reserves Currency Composition Monitor [Figure 1: Official FX. reserves have quadrupled reflecting Figure 2: Mature market (MM) reserves have grown only primarily the growth of EM holdings modestly reflecting valuation & interest 12.000 10.000 b.000 4020 4000 2.400 UM) CM -Toga FX Atteeve, IVINFX 0.344644 GM FX Aaaeva 12.000 10.000 4000 4000 4000 2.000 O 1 89 2000 2002 2003 2005 20