US EditionStatus of US Dollar as Global Reserve Currency: USD Share Hits 30-Year Low as Central Banks Pile on Other Currencies & Gold
- The US dollar's share of global foreign exchange reserves has dropped to 57.4%, the lowest since 1994, according to the IMF's COFER data for Q3 2024.
- Foreign holders added $880 billion in the past 12 months, reaching a record $8.67 trillion in US Treasury securities, according to the Treasury Department's TIC data.
- The euro's share of global reserves has increased to 20.0%, the highest since 2022, while central banks diversify into other currencies and gold.
- If the current decline continues, the dollar's share could fall below 50% by the end of 2034.
7 Articles
7 Articles
Dollar Dominance Dwindles as Central Banks Diversify Reserves
The US dollar lost further ground as global reserve currency among many reserve currencies held by central banks. Its share has been zigzagging lower for many years as central banks have been diversifying their holdings to assets denominated in currencies other than the dollar. And they’ve also been diversifying into gold. But the dollar remains by far the dominant global reserve currency. The share of USD-denominated foreign exchange reserves f…
Dollar's Share Of Global Reserves Hits 30-Year-Low As Central Banks Pile Into Gold, and Alternates
The US dollar lost further ground as global reserve currency among many reserve currencies held by central banks. Its share has been zigzagging lower for many years as central banks have been diversifying their holdings to assets denominated in currencies other than the dollar. And they’ve also been diversifying into gold. But the dollar remains […]
The advent of the Republican's second presidency comes with a dollar questioned by the rest of the world in its role of value reserve, and thus central banks continue to diversify their international holdings.
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