SHAFAQNA- According to the recent data released by the International Monetary Fund (IMF), the US dollar’s share of global central bank reserves has fell sharply to 59.2% in the third quarter of 2023. This decline occurs in the middle of the de-dollarization trend which is accelerating across the world.
The dollar is still the world’s leading reserve currency, then the euro comes but its share has declined. The Japanese yen’s proportion of world reserves has grown in the previous three-month period. The Chinese yuan, British pound, Canadian dollar and Swiss franc were little changed. Meanwhile, based on data compiled by global financial messaging service SWIFT, the yuan’s share of international payments beat the best performance in November, and the renminbi has become the fourth most used currency across the world.
Source: rt
