Foreign banks boost up their US dollar deposits at Federal Reserve

Note: This section contains information in English only.
Source: Bloomberg
© Scanpix/AFP

1.       According to a questionnaire of 80 financial intermediaries by ICAP Plc, the overseas bank deposits at Fed have increased more than two times reaching $715 bn compared to $350 bn at the end of 2010. A surge in Fed deposits is strengthening US dollar on rising investors' concerns about European region's financial stability. Despite budget cuts and unemployment at 9% level, investors still see US as safe haven. 

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