The US Dollar’s share of global reserves has dropped to the lowest level in 25 years!
The slide came in a quarter when a gauge of the greenback fell the most since 2010, and amid questions about how long the dollar can maintain its status as the pre-eminent reserve currency. The Chinese renminbi is transforming into a force to be reckoned with in currency markets, with more yuan changing hands than ever before in London, the world’s leading foreign-exchange center.
The US Dollar is strengthening, which may restore global confidence in the dollar. Doubtful.
The greenback is still the most dominant currency used, with data from the Bank for International Settlements showing it’s on one side of 88% of all trades