القائمة الرئيسية

الصفحات

Monetary Fund: Decline in the dollar’s share of central bank reserves

 Monetary Fund: Decline in the dollar’s share of central bank reserves

Data from the International Monetary Fund revealed, on Friday, that the US dollar’s share of global central bank reserves decreased during the third quarter of this year, compared to an increase in the Japanese yen’s share of them.

The US dollar accounted for 59.2% of foreign exchange reserves allocated globally during the three months ending last September, declining from the revised 59.4% in the previous three months, according to International Monetary Fund data on the strength of official foreign exchange reserve currencies, or COFER. This percentage is the lowest since the last quarter of last year.


The euro's share of reserves also fell slightly from 19.7% to 19.6%, while the Japanese yen's contribution increased from 5.3% to 5.5%.

The shares of the Chinese yuan, the British pound, the Australian and Canadian dollars, and the Swiss franc did not change significantly. The "other currencies" group's proportion of reserves grew from 3.6% to 3.9% during the previous quarter.


Although the US dollar was usually the preferred reserve currency for the majority of central banks around the world due to its widespread use and stability in global markets, it gradually began to lose its dominance since the beginning of the current millennium, when its share was more than 70%

The superiority of the US dollar helped the United States control financing costs and manage the budget deficit, as trading partners pumped their dollars into US government bonds. This also supports US companies because the widespread use of the US dollar in global trade - such as oil and commodities - often makes borrowing less expensive for US multinationals.

تعليقات

تعليق واحد
إرسال تعليق
  1. حلم حلم حلم حلم حلم حلم حلم رقم الهاتف الجوال 0655120335

    ردحذف

إرسال تعليق