(I-1) Relative Economic Size andRelative Use of Currencies
: Japan, United States and EU
|
(Unit : %) |
|
Japan |
U.S. |
Euro 11 |
EU 15 |
|
|
Relative Economic Size Nominal GDP(1997) |
|
|
|
|
|
Trade (1997) |
6.8 |
14.2 |
28.8 |
36.4 |
|
Population |
1.26 |
2.68 |
2.90 |
3.74 |
|
Relative Use of Currencies |
||||
|
World Trade(1992) (Note2) |
5.0 |
48.0 |
- |
31.0 |
|
Global Foreign Exchange |
4.9 |
57.1 |
19.4 |
22.8 |
(Note 1) Includes intra-Euro11 and intra-EU15 trade, respectively.
(Note 2) Estimate based on export figures (Philip Hartman, "The Future of the Euro asan International Currency")
(Note 3) Sum of Deutsche mark, French franc, Netherlands guilder and ECU.
(Note 4) Euro 11+ Pound sterling
(Sources) International Monetary Fund, "World Economic Outlook, October1997", etc.
<Reference 1> Invoicing Currencies of Japan's Trade (Mar. 1999)
|
(Unit : %) |
|
Yen |
U.S. dollar |
Others |
|
|
Exports |
36.0 |
51.2 |
12.9 |
|
Imports |
21.8 |
71.5 |
6.7 |
(Source)Data provided by Ministry of International Trade andIndustry
<Reference 2>Currency Distribution of Outstanding
External loans of financial institutions in Japan (End-1997)
|
(Unit : %) |
|
Yen |
Others |
|
|
Share |
19.1 |
80.9 |
(Source) Data provided by Ministry of Finance
(I-2) Yen-invoiced Transactions inJapan's Trade
(Value Basis)
(I-2-(1)) Invoicing Currencies ofJapan's Trade by Region
|
(Unit : %) |
|
Exports |
World |
United States |
EU |
Southeast Asia |
|||||||||
|
Yen |
U.S. dollar |
Others |
Yen |
U.S. dollar |
Others |
Yen |
U.S. dollar |
Others |
Yen |
U.S. dollar |
Others |
||
|
1992 Sep. |
40.1 |
46.6 |
13.1 |
16.6 |
83.2 |
0.1 |
40.3 |
11.1 |
48.4 |
52.3 |
41.6 |
5.9 |
|
|
1993 Sep. |
39.9 |
48.4 |
11.7 |
16.5 |
83.3 |
0.2 |
41.0 |
7.5 |
51.5 |
52.5 |
44.3 |
3.2 |
|
|
1994 Sep. |
39.7 |
48.3 |
12.0 |
19.0 |
80.8 |
0.2 |
36.6 |
9.0 |
54.4 |
49.0 |
47.9 |
3.1 |
|
|
1995 Mar. |
37.6 |
51.5 |
10.9 |
17.5 |
82.3 |
0.2 |
37.2 |
11.3 |
51.5 |
47.2 |
49.9 |
2.9 |
|
|
1995 Sep. |
36.0 |
52.5 |
11.5 |
17.0 |
82.9 |
0.1 |
34.9 |
12.2 |
52.9 |
44.3 |
53.4 |
2.3 |
|
|
1996 Mar. |
35.9 |
53.1 |
10.9 |
15.9 |
83.9 |
0.2 |
36.1 |
12.5 |
51.3 |
44.1 |
53.5 |
2.3 |
|
|
1996 Sep. |
35.2 |
53.3 |
11.5 |
14.5 |
85.4 |
0.1 |
33.3 |
12.4 |
54.4 |
46.3 |
51.3 |
2.4 |
|
|
1997 Mar. |
35.8 |
52.8 |
11.3 |
16.6 |
83.2 |
0.2 |
34.3 |
13.4 |
52.3 |
45.5 |
51.7 |
2.7 |
|
|
1997 Sep. |
35.8 |
52.1 |
12.1 |
15.3 |
84.5 |
0.2 |
34.2 |
12.3 |
53.5 |
47.0 |
50.2 |
2.7 |
|
|
1998 Mar. |
36.0 |
51.2 |
12.9 |
15.7 |
84.1 |
0.1 |
34.9 |
13.2 |
51.9 |
48.4 |
48.7 |
2.9 |
|
|
Imports |
World |
United States |
EU |
Southeast Asia |
|||||||||
|
Yen |
U.S. dollar |
Others |
Yen |
U.S. dollar |
Others |
Yen |
U.S. dollar |
Others |
Yen |
U.S. dollar |
Others |
||
|
1992 Sep. |
17.0 |
74.5 |
8.5 |
13.8 |
86.0 |
0.2 |
31.7 |
17.9 |
50.4 |
23.8 |
73.9 |
2.3 |
|
|
1993 Sep. |
20.9 |
72.4 |
6.7 |
13.8 |
86.1 |
0.1 |
45.0 |
18.2 |
36.8 |
25.7 |
72.0 |
2.3 |
|
|
1994 Sep. |
19.2 |
73.9 |
7.0 |
13.3 |
86.4 |
0.3 |
38.6 |
21.9 |
39.5 |
23.6 |
74.2 |
2.2 |
|
|
1995 Mar. |
24.3 |
68.9 |
6.8 |
18.4 |
80.9 |
0.6 |
40.6 |
20.2 |
39.2 |
34.1 |
64.2 |
1.7 |
|
|
1995 Sep. |
22.7 |
70.2 |
7.1 |
21.5 |
78.4 |
0.2 |
44.8 |
16.1 |
39.2 |
26.2 |
71.9 |
2.0 |
|
|
1996 Mar. |
20.5 |
72.2 |
7.3 |
17.5 |
82.7 |
0.1 |
40.9 |
15.3 |
43.0 |
23.9 |
74.1 |
2.0 |
|
|
1996 Sep. |
20.6 |
72.4 |
6.9 |
16.4 |
83.2 |
0.4 |
46.1 |
12.5 |
41.5 |
24.0 |
73.8 |
2.3 |
|
|
1997 Mar. |
18.9 |
74.0 |
7.1 |
14.2 |
85.6 |
0.2 |
41.3 |
17.0 |
41.7 |
23.3 |
74.9 |
1.7 |
|
|
1997 Sep. |
22.6 |
70.8 |
6.6 |
22.0 |
77.8 |
0.2 |
49.3 |
13.1 |
37.7 |
25.0 |
73.0 |
1.9 |
|
|
1998 Mar. |
21.8 |
71.5 |
6.7 |
16.9 |
83.0 |
0.1 |
44.3 |
14.3 |
41.4 |
26.7 |
71.6 |
1.7 |
|
|
(Note) "Southeast Asia" refers to ASEAN, NIES, Cambodia, India, Pakistan, Sri Lanka, Maldives, Bangladish, East Timor, Macao, Afganistan, Nepal, and Bhutan. |
(I-2-(2)) Invoicing Currencies of
Japan's Trade by Commodity (March, 1999)
| I. Exports | (Unit : %) |
|
World |
U.S. |
EU |
Southeast Asia |
||||
|
Yen |
U.S. dollar |
others |
Yen |
Yen |
Yen |
||
|
Total |
36.0 |
51.2 |
12.9 |
15.7 |
34.9 |
48.4 |
|
|
Food stuff |
52.7 |
42.9 |
4.4 |
17.6 |
37.9 |
59.2 |
|
|
Textiles |
35.7 |
59.0 |
5.3 |
16.3 |
59.8 |
28.2 |
|
|
Chemicals |
29.7 |
61.5 |
8.8 |
29.0 |
38.3 |
29.8 |
|
|
Non-metallic mineralmanufactures |
41.8 |
50.9 |
7.3 |
18.4 |
40.7 |
53.1 |
|
|
Metals |
21.3 |
74.3 |
4.4 |
11.2 |
34.2 |
23.2 |
|
|
Machinery other than electric |
38.1 |
50.2 |
11.7 |
17.7 |
32.6 |
59.7 |
|
|
Electrical machinery |
32.4 |
55.6 |
11.9 |
13.6 |
37.4 |
42.7 |
|
|
(IC) |
21.4 |
68.9 |
9.6 |
9.3 |
16.2 |
26.7 |
|
|
Transport equipment |
43.4 |
40.1 |
16.3 |
12.6 |
36.9 |
81.3 |
|
|
(Motor vehicles) |
37.6 |
40.7 |
21.7 |
13.6 |
37.8 |
87.7 |
|
|
Precision instruments |
37.1 |
45.6 |
17.3 |
20.9 |
34.5 |
61.5 |
|
|
Others |
27.2 |
55.6 |
17.1 |
16.6 |
23.8 |
40.3 |
|
|
II.Imports |
|
World |
U.S. |
EU |
Southeast Asia |
|||||
|
Yen |
U.S. dollar |
others |
Yen |
Yen |
Yen |
|||
|
Total |
21.8 |
71.5 |
6.7 |
16.9 |
44.3 |
26.7 |
||
| Foodstuff |
27.4 |
66.7 |
5.8 |
21.4 |
31.7 |
30.7 |
||
|
Pork |
81.9 |
16.2 |
1.9 |
61.4 |
92.5 |
99.6 |
||
|
Beef |
14.1 |
85.1 |
0.8 |
12.2 |
- |
100.0 |
||
|
Fish and shellfish |
37.9 |
61.1 |
1.0 |
32.3 |
29.0 |
29.2 |
||
|
Fruit |
25.4 |
70.6 |
3.1 |
26.0 |
36.6 |
34.8 |
||
|
Vegetables |
19.4 |
76.6 |
3.9 |
11.6 |
4.8 |
14.9 |
||
| Raw materials |
6.8 |
91.3 |
1.8 |
1.2 |
27.6 |
14.8 |
||
| Wood |
7.8 |
90.5 |
1.6 |
1.3 |
29.9 |
11.6 |
||
| Mineral fuels |
1.3 |
98.6 |
0.1 |
4.5 |
38.0 |
1.0 |
||
| Petroleum, crude and partly refined |
0.5 |
99.3 |
0.2 |
- |
- |
4.6 |
||
| Petroleum products |
0.9 |
98.9 |
0.2 |
1.7 |
29.8 |
1.0 |
||
| Products |
28.2 |
62.2 |
9.5 |
16.9 |
46.5 |
33.7 |
||
|
Chemicals |
32.1 |
61.2 |
6.6 |
14.8 |
76.8 |
22.8 |
||
|
Textile |
18.5 |
72.5 |
9.0 |
11.1 |
41.8 |
16.6 |
||
|
Metals |
27.2 |
69.7 |
3.1 |
14.4 |
35.1 |
51.6 |
||
| Machinery and equipments |
31.2 |
57.3 |
11.4 |
19.8 |
35.2 |
37.7 |
||
| (Office machinery) |
31.9 |
65.4 |
2.7 |
32.6 |
16.5 |
34.9 |
||
| (emiconductors, etc.) |
51.6 |
47.4 |
1.1 |
23.2 |
44.4 |
54.3 |
||
|
(Motor vehicles) |
43.0 |
14.2 |
42.8 |
26.0 |
45.7 |
90.5 |
||
|
Other products |
20.8 |
67.4 |
9.9 |
14.7 |
31.0 |
24.5 |
||
(Source) Data provided by Ministry of International Trade and Industry
(I-3) Share of Home-Currency InvoicedTransactions
in Trades of Major Industrialized Countries
|
Exports |
(Unit : %) |
|
1980 |
1988 |
1995 |
1997 |
|
| Japan |
29.4 |
34.3 |
36.0 |
35.8 |
|
United States |
97.0 |
96.0 |
- |
- |
| United Kingdom |
76.0 |
57.0 |
- |
- |
| Germany |
82.3 |
81.5 |
74.8 |
- |
| France |
62.5 |
58.5 |
- |
49.2 |
| Italy |
36.0 |
- |
- |
38.0 |
|
Imports |
(Unit : %) |
|
1980 |
1988 |
1995 |
1997 |
|
| Japan |
2.4 |
13.3 |
22.7 |
22.6 |
|
United States |
85.0 |
85.0 |
- |
- |
| United Kingdom |
38.0 |
40.0 |
- |
- |
| Germany |
43.0 |
52.6 |
51.5 |
- |
| France |
33.1 |
48.9 |
- |
46.6 |
| Italy |
18.0 |
- |
- |
38.1 |
(Note) For German exports and Italian exports and imports in 1988, data in 1987 areprovided.
(Sources)
- For Year 1980 and 1988:
George S. Tavlas and Yuzuru Ozeki (1992), "The Internationalization of Currencies: An Appraisal of the Japanese Yen", IMF Occasional Paper No.90
- For Year 1995 and 1997:
Central banks' data(As for Japan, data provided by Ministry of International Trade and Industry)
<Reference> InvoicingCurrencies of Trade by Region: Japan and Germany
|
(Japan: 1998, Germany: 1989, Unit: %) |
|
Exports |
Imports |
||||||
|
Yen |
U.S. dollar |
Deutsche mark |
Yen |
U.S. dollar |
Deutsche mark |
||
|
Japan |
to and from |
15.7 |
84.1 |
n.a. |
16.9 |
83.0 |
0.0 |
|
Germany |
n.a. |
37.0 |
62.0 |
n.a. |
67.0 |
14.0 |
|
|
Japan |
to and from |
34.9 |
13.2 |
n.a. |
44.3 |
14.3 |
19.4 |
|
Germany |
n.a. |
2.0 |
80.0 |
n.a. |
11.0 |
60.0 |
|
|
Japan |
to and from |
48.4 |
48.7 |
n.a. |
26.7 |
71.6 |
0.2 |
|
Germany |
to and from |
n.a. |
12.0 |
82.0 |
n.a. |
37.0 |
46.0 |
(Sources) Data provided by Ministry of International Trade and Industry,
Bundesbank, "Monthly Report of the Deutsche Bundesbank, November 1991"
(I-4) Currency Distribution ofInternational Bond Offerings
|
(Unit: %) |
|
1993 |
1994 |
1995 |
1996 |
1997 |
|
|
U.S. dollar |
35.9 |
37.5 |
39.5 |
43.0 |
45.0 |
|
Deutsche mark |
11.8 |
7.8 |
15.5 |
14.0 |
16.8 |
|
Yen |
9.6 |
13.3 |
12.6 |
8.6 |
4.5 |
|
Pound sterling |
10.8 |
8.8 |
5.9 |
8.8 |
8.9 |
|
French franc |
8.7 |
7.0 |
2.8 |
6.4 |
6.4 |
|
Italian lila |
3.1 |
5.5 |
3.8 |
4.9 |
5.4 |
|
Swiss Franc |
6.1 |
4.8 |
5.6 |
3.3 |
2.6 |
|
Dutch guilder |
2.6 |
3.0 |
3.2 |
2.9 |
2.3 |
|
Australian dollar |
0.8 |
1.8 |
2.3 |
1.4 |
0.9 |
|
Peseta |
0.8 |
0.5 |
0.9 |
1.3 |
1.3 |
|
Luxembourg franc |
0.7 |
2.6 |
2.9 |
1.2 |
0.4 |
|
Canadian dollar |
6.4 |
3.6 |
0.7 |
1.0 |
0.5 |
|
ECU |
1.6 |
2.0 |
1.7 |
0.7 |
1.3 |
|
Other |
1.1 |
1.8 |
2.6 |
2.5 |
3.7 |
|
Total |
100.0 |
100.0 |
100.0 |
100.0 |
100.0 |
(Note) All currencies converted into U.S.dollar at constant (end-1990) exchange rates.
(Source) OECD, "Financial Market Trends, February 1998"
(I-4-(1)) Euro and Foreign BondOfferings
|
Euro issues by currency |
(Unit : 100 million U.S. dollar) |
|
1993 |
1994 |
1995 |
1996 |
1997 |
||||||
|
Value |
Share |
Value |
Share |
Value |
Share |
Value |
Share |
Value |
Share |
|
|
Yen |
444 |
11.3% |
673 |
18.3% |
645 |
17.4% |
412 |
7.0% |
284 |
3.9% |
|
U.S. dollar |
1,477 |
37.4% |
1,494 |
40.6% |
1,444 |
38.9% |
2,687 |
45.6% |
3,617 |
49.2% |
|
Deutsche mark |
547 |
13.9% |
316 |
8.6% |
727 |
19.6% |
1,001 |
17.0% |
1,302 |
17.7% |
|
Pound sterling |
427 |
10.8% |
304 |
8.3% |
216 |
5.8% |
518 |
8.8% |
686 |
9.3% |
|
ECU |
71 |
1.8% |
76 |
2.1% |
71 |
1.9% |
46 |
0.8% |
98 |
1.3% |
|
Total |
3,946 |
100.0% |
3,684 |
100.0% |
3,713 |
100.0% |
5,898 |
100.0% |
7,351 |
100.0% |
|
|
|
1993 |
1994 |
1995 |
1996 |
1997 |
||||||
|
Value |
Share |
Value |
Share |
Value |
Share |
Value |
Share |
Value |
Share |
|
|
Japan |
152 |
17.6% |
112 |
18.6% |
180 |
18.8% |
355 |
29.8% |
174 |
18.0% |
|
United States |
354 |
41.0% |
150 |
24.9% |
324 |
33.8% |
405 |
34.0% |
455 |
47.2% |
|
Switzerland |
270 |
31.3% |
200 |
33.2% |
271 |
28.2% |
250 |
21.0% |
210 |
21.8% |
|
Luxembourg |
35 |
4.1% |
110 |
18.3% |
138 |
14.4% |
84 |
7.1% |
29 |
3.0% |
|
Spain |
30 |
3.5% |
16 |
2.7% |
23 |
2.4% |
63 |
5.3% |
57 |
5.9% |
|
Total |
864 |
100.0% |
602 |
100.0% |
960 |
100.0% |
1,190 |
100.0% |
965 |
100.0% |
(Source)OECD, "Financial Market Trends, February 1998"
(I-5) Currency Distribution ofOutstanding External
Loan of Financial Institutions in Japan
|
( Unit):100 million U.S. dollar, % |
|
Outstanding |
Share |
|||
|
Foreign currencies |
Yen |
Foreign currencies |
Yen |
|
|
End-1985 |
1,344 |
352 |
79.2 |
20.8 |
|
End-1986 |
1,691 |
572 |
74.7 |
25.3 |
|
End-1987 |
2,182 |
804 |
73.1 |
26.9 |
|
End-1988 |
2,755 |
997 |
73.4 |
26.6 |
|
End-1989 |
3,373 |
1,083 |
75.7 |
24.3 |
|
End-1990 |
3,928 |
938 |
80.7 |
19.3 |
|
End-1991 |
3,997 |
1,015 |
79.7 |
20.3 |
|
End-1992 |
4,039 |
938 |
81.2 |
18.8 |
|
End-1993 |
3,846 |
965 |
79.9 |
20.1 |
|
End-1994 |
3,868 |
1,058 |
78.5 |
21.5 |
|
End-1995 |
4,186 |
1,319 |
76.0 |
24.0 |
|
End-1996 |
4,262 |
1,081 |
79.8 |
20.2 |
|
End-1997 |
3,988 |
944 |
80.9 |
19.1 |
?Source?Data provided by Ministry of Finance
(1-6) Currency Distribution ofInternational Bank Loans
|
(Unit: %) |
|
1993 |
1994 |
1995 |
1996 |
1997 |
|
|
Japanese yen |
0.7 |
0.2 |
0.2 |
0.2 |
0.2 |
|
U.S. dollar |
81.0 |
80.7 |
76.8 |
74.7 |
69.8 |
|
Pound sterling |
2.2 |
8.6 |
11.7 |
12.5 |
15.6 |
|
French franc |
1.9 |
1.6 |
1.5 |
4.8 |
5.3 |
|
Deutsche mark |
3.2 |
1.1 |
4.1 |
4.2 |
3.3 |
|
Swiss franc |
0.4 |
0.1 |
0.1 |
0.5 |
1.1 |
|
ECU |
6.4 |
3.9 |
3.8 |
0.2 |
0.8 |
|
Other |
4.2 |
3.8 |
1.8 |
2.9 |
3.9 |
|
Total |
100.0 |
100.0 |
100.0 |
100.0 |
100.0 |
(Note 1) "International Bank Loans" refer to foreign and Euro medium-termbank loans.
(Note 2) Currency of denomination converted into U.S. dollar at constant (End-1990)exchange rates.
<Reference>
In euro medium-term note market in 1997, about 87 per centsof issues were in U.S. dollars, with the yen the next most used currency.
(Source) OECD, "Financial Market Trends, February 1998"
(I-7) Currency Distribution ofGlobal Traditonal
Foreign Exchange Market Activity
(Average daily turnover)
|
(Unit : %) |
|
Currency |
April 1989 |
April 1992 |
April 1995 |
April 1998 |
|
U.S. dollar |
90 |
82 |
83 |
87 |
|
Deutsche mark |
27 |
40 |
37 |
30 |
|
Yen |
27 |
23 |
24 |
21 |
|
Pound sterling |
15 |
14 |
10 |
11 |
|
French franc |
2 |
4 |
8 |
5 |
|
Swiss franc |
10 |
9 |
7 |
7 |
|
Canadian dollar |
1 |
3 |
3 |
4 |
|
Australian dollar |
2 |
2 |
3 |
3 |
|
ECU, other EMS currencies |
4 |
12 |
15 |
17 |
|
Other currencies |
22 |
11 |
10 |
15 |
|
Total |
200 |
200 |
200 |
200 |
(Note)In each transaction, two currencies are double-counted.
(Source)Bank for International Settlements, "Central Bank Survey of ForeignExchange and Derivatives Market Activity in April 1998 : Preliminary Global Data"
(I-8) Share of Currencies in TotalIdentified Official Holdings of Foreign Exchange
|
(Unit: %) |
|
Year |
End-1976 |
End-1980 |
End-1985 |
End-1990 |
End-1991 |
End-1992 |
End-1993 |
End-1994 |
End-1995 |
End-1996 |
End-1997 |
|
|
All |
Yen |
2.0 |
4.4 |
7.3 |
7.9 |
8.4 |
7.6 |
7.7 |
7.9 |
6.5 |
5.7 |
4.9 |
|
U.S. dollar |
76.5 |
68.6 |
55.3 |
49.4 |
50.0 |
54.2 |
55.6 |
55.7 |
56.4 |
59.6 |
57.1 |
|
|
Deutsche mark |
9.0 |
14.9 |
13.9 |
17.0 |
15.6 |
13.6 |
14.0 |
14.4 |
13.8 |
13.1 |
12.8 |
|
|
Pound sterling |
1.8 |
2.9 |
2.7 |
2.8 |
3.2 |
3.0 |
2.9 |
3.3 |
3.2 |
3.4 |
3.4 |
|
|
French franc |
1.6 |
1.7 |
0.8 |
2.3 |
2.8 |
2.5 |
2.2 |
2.4 |
2.3 |
1.8 |
1.2 |
|
|
ECU |
- |
- |
11.6 |
10.1 |
10.6 |
10.1 |
8.6 |
8.1 |
7.1 |
6.2 |
5.0 |
|
|
Others |
9.1 |
7.5 |
8.4 |
10.5 |
9.4 |
9.0 |
9.0 |
8.2 |
10.7 |
10.2 |
15.6 |
|
|
Industrial |
Yen |
1.8 |
3.3 |
7.6 |
8.5 |
9.5 |
7.5 |
7.7 |
8.2 |
6.6 |
5.6 |
5.4 |
|
U.S. dollar |
87.0 |
77.2 |
50.1 |
44.9 |
43.1 |
48.4 |
49.9 |
50.8 |
51.8 |
56.1 |
57.5 |
|
|
Deutsche mark |
6.2 |
14.3 |
16.7 |
19.4 |
18.0 |
14.9 |
16.2 |
16.3 |
16.4 |
15.6 |
16.6 |
|
|
Pound sterling |
0.8 |
0.8 |
1.6 |
1.4 |
1.6 |
2.2 |
2.0 |
2.3 |
2.1 |
2.0 |
1.9 |
|
|
French franc |
0.5 |
0.7 |
0.1 |
2.3 |
3.0 |
2.8 |
2.5 |
2.4 |
2.3 |
1.7 |
0.9 |
|
|
ECU |
- |
- |
20.1 |
14.5 |
16.6 |
16.7 |
15.2 |
14.6 |
13.4 |
12.0 |
10.7 |
|
|
Others |
3.7 |
3.7 |
3.8 |
9.0 |
8.2 |
7.5 |
6.5 |
5.4 |
7.4 |
7.0 |
7.0 |
|
|
Developing |
Yen |
2.2 |
5.4 |
6.8 |
6.6 |
7.0 |
7.9 |
7.6 |
7.5 |
6.3 |
5.9 |
4.4 |
|
U.S. dollar |
68.8 |
59.9 |
62.5 |
59.5 |
62.0 |
63.1 |
63.1 |
61.7 |
61.6 |
63.3 |
56.7 |
|
|
Deutsche mark |
11.4 |
15.4 |
9.8 |
11.5 |
11.5 |
11.5 |
11.1 |
12.1 |
10.9 |
10.5 |
9.5 |
|
|
Pound sterling |
2.6 |
5.1 |
4.3 |
6.1 |
5.8 |
4.2 |
4.0 |
4.5 |
4.4 |
4.8 |
4.7 |
|
|
French franc |
2.5 |
2.7 |
1.9 |
2.3 |
2.5 |
2.1 |
1.9 |
2.4 |
2.2 |
2.0 |
1.4 |
|
|
ECU |
- |
- |
- |
- |
- |
- |
- |
- |
- |
- |
- |
|
|
Others |
12.5 |
11.5 |
14.7 |
14.0 |
11.2 |
11.2 |
12.3 |
11.8 |
14.6 |
13.5 |
23.3 |
|
(Note) ECU is not classified as a currency in 1976 and 1980.
(Source) International Monetary Fund, "Annual Report 1998"
(I-8-(1)) Share of 8 Major Currencies
in Total Identified Official Holdings
.jpg)
| (Note 1) | The term "8 major currencies" refers to the yen, U.S. dollar, Deutsche mark (DM), Pound sterling, French franc (FF), Swiss franc, Netherlands guilder (NG), and the ECU. |
| (Note 2) | Share on a "quantity basis" is defined as the share of the sum of "quantity change" and the official holdings at the end of 1989. "Quantity change" is calculated by multiplying the difference in official holdings of each currency between the end of two consecutive quarters by the average of the two SDR rates of that currency prevailing on the corresponding dates. |
| (Source) | Estimates based on the International Monetary Fund's "Annual Report 1998" |