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U.S. dollar share of world currency reserves stays flat in second quarter, IMF says
By Gertrude Chavez-Dreyfuss
Reuters
Friday, September 29, 2023
NEW YORK -- The U.S. dollar's share of global currency reserves reported to the International Monetary Fund was 58.9% in the second quarter, unchanged from the first three months of the year, IMF data showed today.
Claims in U.S. dollars rose 0.8% to $6.576 trillion in the second quarter, but were down 1% from a year earlier.
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The euro's share edged up slightly to 19.9% in the second quarter, from 19.8% the previous three months. Euro claims grew 1% in the quarter and increased 2% from a year earlier.
"The dollar is still the dominant currency in foreign exchange and international funding. Its share of over-the-counter FX transactions has remained remarkably stable," wrote Michael Langham, emerging markets analyst at abrdn, in one of his latest pieces on the future of the U.S. currency's influence.
But he pointed out the greenback's share of currency reserves has been on a "gradual downward trend," falling over 10 percentage points over the past 20 years. ...
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