The Bank of England has published the UK's international reserves data for March, showing the stock of foreign currency assets that the government holds to manage the exchange rate and to meet the country's international financial obligations.
The data show that the UK's international reserves stood at approximately $190 billion at the end of the period, comprising foreign currency assets, gold, special drawing rights at the International Monetary Fund and the UK's reserve position at the IMF. The level of reserves was broadly unchanged from the previous period.
The UK's reserves are managed by the Bank of England on behalf of the Treasury, under a framework that prioritises safety and liquidity over return. The reserves are held primarily in the currencies of the UK's major trading partners — the US dollar, the euro, the Japanese yen and the Chinese renminbi — and are invested in highly rated government bonds and other liquid assets.
The Bank said the level of reserves was adequate to meet the UK's potential needs and was consistent with the government's policy of maintaining a prudent level of international reserves. The reserves are published monthly as part of the Bank's commitment to transparency in the management of the public finances.
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