The upstart or young pretender KRW (South Korean won) is currently weak against the USD on event risk, but the market anticipates the currency to trade back to pre-crisis strength against the JPY.

FORBES: The Bank Of Japan Stands Tall But Questions Remain

From the start of 2010 (when China first started publishing quarterly BOP data) we experiment with various currency proportions, before settling on the following composition of FX reserves: 60% held in USD assets, 30% in euros and 5% each in yen and sterling.

FORBES: How Much Longer Can China Accumulate Reserves?