The International Monetary Fund stated that the dollar’s share in global foreign exchange reserves decreased at the end of last year 2022 to 58.36%, which is the lowest level in 27 years.
The fund added that non-reserve currencies have become the main beneficiaries, with their share jumping to the maximum level since mid-2012.
The international institution stated that the dollar’s share in international foreign exchange reserves declined in 2022 by 0.44% to 58.36%, which is the lowest level since at least 1995.
The International Monetary Fund noted that the decline in the share of the “American” was the strongest of all currencies. 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%.
Meanwhile, the share of the British pound increased 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 at 2.38%.
However, other currencies increased their share by 0.36%, reaching 3.45%, the maximum since the second quarter of 2012.
This article was originally published by RT.
