Javier Guzmán Calafell: Navigating the multicurrency reserve environment

Remarks by Mr Javier Guzmán Calafell, Deputy Governor of the Bank of Mexico, at the "OMFIF-RAMP Discussion on Navigating the Multicurrency Reserve Environment", Washington DC, 6 October 2016.

The views expressed in this speech are those of the speaker and not the view of the BIS.

Let me start by expressing my appreciation to the organizers for the invitation to participate in this panel.

In recent years, central banks around the world have shown an increasing interest in investing their international reserves in assets denominated in a wider array of currencies. This is explained by a number of reasons, including a more active search for yield in a low interest rate environment and diversification from a risk management perspective.