COFERCurrency Composition of Official Foreign Exchange Reserves (International Monetary Fund database)
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When the IMF Executive Board determined the RMB to be a freely usable currency and decided to include it in the basket of currencies that make up the Special Drawing Right (SDR), effective October 1, 2016, it underscored the importance of making efforts to address remaining data gaps, including in the currency coverage of the COFER survey, ahead of the next SDR review.
On February 26, 2016, the Board agreed to make the change in COFER effective October 1, 2016, thus providing the lead time necessary for COFER survey respondents to adjust to the change.
COFER data are reported to the IMF on a voluntary and confidential basis.
Following consultation with the IMF s Executive Board, the IMF developed an Action Plan in 2011 aimed at expanding COFER reporting.