Status of US Dollar as Global Reserve Currency and USD Exchange Rates: Long, Slow, Uneven Decline Continues

By Wolf Richter – Wolf Street

The share of USD-denominated foreign exchange reserves dipped to 59.2%, according to the IMF’s COFER data released on December 31 for Q3 2023. For the past 20 years, the USD’s share has been on a slow downward trend, with other currencies nibbling at it from all sides. The euro was #2, the yen #3, the British pound #4. The Chinese renminbi dropped to #6, behind the Canadian dollar