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USD share as global reserve currency drops to lowest since 1994
Banks diversify their holdings into dozens of smaller “non-traditional reserve currencies.” By Wolf Richter for WOLF STREET. The share of USD-denominated assets held by other central banks dropped to 56.9% of total foreign exchange reserves in Q3, the lowest since 1994, from 57.1% in Q2 and 58.5% in Q1, according to the IMF’s new data on Currency Composition of Official Foreign Exchange Reserves.
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