The International Monetary Fund (IMF) revealed that the dollar’s share in global foreign exchange reserves plummeted to 58.36% in 2022, which is the lowest in 27 years.
In its latest report, the IMF said that the dollar’s share in global foreign exchange reserves declined in 2022 by 0.44% to 58.36%.
“The decline in the share of the US dollar was the strongest among all currencies,” Russian agency “Sputnik” reported.
The report also showed that the share of the euro decreased by 0.12% to 20.47%, the Chinese yuan by 0.11% to 2.69%, and the Japanese yen by 0.01% to 5.51%.
The share of the British pound rose by 0.14%, the Australian dollar by 0.12% to 1.96%, and the Swiss franc by 0.06% to 0.23%, while the Canadian dollar maintained its share as it is at 2.38%, added the report.
Back in 1999, the dollar’s share in global reserves used to stand at 71%.