Reasons: frequent dollar crises, frequent fluctuations in exchange rates of major currencies, rapid growth of international liquidity and improper management of reserve assets; The most fundamental thing is the imbalance of economic development and the relative position of major developed countries.
The influence of international reserve diversification on the world economy;
Beneficial effects:
1. The diversification of reserve currencies has got rid of the excessive dependence on the US dollar, so that the value of foreign exchange reserves in various countries is no longer only affected by the economic changes in the United States;
2. It reduces the risk of exchange rate fluctuation of foreign exchange reserves, and at the same time enables monetary authorities of various countries to obtain higher returns in the choice of reserve assets;
3. When the international financial market is in turmoil, countries where reserve currencies are located can be urged to strengthen international financial cooperation and coordination.
Adverse effects:
1. The currency of foreign exchange reserves has changed from single to diversified, which has intensified the turmoil in the international financial market;
2. The diversification of reserve currencies has made it more difficult for monetary authorities of various countries to manage international reserves;
3. Diversification of reserve currencies has increased the supply of international reserves, which has led to an excessive increase in the total amount of reserve currencies and aggravated inflation worldwide.