U.S. dollar’s share of global foreign exchange reserves has fallen from 73% to 58% over the last two decades. Taking into account, the currency exchange rates, dollar’s actual share is 47%.

☆ Yσɠƚԋσʂ ☆@lemmy.ml · 1 year ago

U.S. dollar’s share of global foreign exchange reserves has fallen from 73% to 58% over the last two decades. Taking into account, the currency exchange rates, dollar’s actual share is 47%.

Skooby1@lemmy.world · 1 year ago

Dedollarization has begun. Takes a long time to get dollar denominated debts off balance sheets and to replace it with alternatives though.

Slowly but surely.

Rumblestiltskin@lemmy.ca · 1 year ago

There will be many Americans who claim it is still 58% so it is still the reserve currency but the main point is the rate of change. And it is pretty quick.

☆ Yσɠƚԋσʂ ☆@lemmy.ml · 1 year ago

Exactly, it’s the overall trajectory that matters here. The other factor is that it’s a self reinforcing process, the more countries move off dollar to do trade the easier to becomes for other countries to do so.

U.S. dollar’s share of global foreign exchange reserves has fallen from 73% to 58% over the last two decades. Taking into account, the currency exchange rates, dollar’s actual share is 47%.

U.S. dollar’s share of global foreign exchange reserves has fallen from 73% to 58% over the last two decades. Taking into account, the currency exchange rates, dollar’s actual share is 47%.

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