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- U.S. Dollar’s Status as Global Reserve Currency On Slow Long-Term Decline, but Not Going Down in a Straight Line
U.S. Dollar’s Status as Global Reserve Currency On Slow Long-Term Decline, but Not Going Down in a Straight Line
by Wolf Richter Wolf Street
An important thing to keep our eyes on these days.
The US dollar as dominant global reserve currency has been on a slow long-term downward trend, interrupted by upticks. And now we had an uptick, when the dollar gained share.
The share of the USD as global reserve currency rose to 59.0% in the first quarter of 2023, after having dropped to 58.6% in Q4, which had been the dollar’s lowest share since 1994, according to the IMF’s recent COFER data.