U.S. Dollar share of global foreign currency reserves drops to lowest level this century.
https://blossom.primal.net/722e6aa6fcfc03ba32f3d638425eef6cc6e01cbd967c87de352035bfb5291e09.png
This continues a multi-decade trend of modest de-dollarization…
Much of the recent drop (e.g., ~92% in some quarters) has been attributed to exchange-rate effects (the dollar weakening against other currencies), rather than massive active diversification away from USD assets by central banks.
Much of the recent drop (e.g., ~92% in some quarters) has been attributed to exchange-rate effects (the dollar weakening against other currencies), rather than massive active diversification away from USD assets by central banks.