But also like the SDR, stability under a multi-currency system would still ultimately rely on nationally-oriented policies, though in the case of the multi-currency system, market participants would choose directly the sets of national policies they prefer.
Total foreign country exposure increased to nearly one-third of foreign currency assets at the end of September 2012, from just over 26 percent in September 2011. The largest foreign exposure of local banks was to the United States, most of which is in the form of US treasury bills. The second largest exposure was to CARICOM, especially Barbados.