The dollar has strengthened its position in global trade, while the euro is losing ground

The dollar’s role in international payments continues to grow, while the euro’s position is gradually weakening. This is evidenced by data from the SWIFT system and calculations by analysts at the Eurasian Development Bank.

According to the study, the dollar’s share of international payments processed through SWIFT rose from 32% in 2010 to 49% in 2025. The main growth occurred due to a decline in the euro’s share.

While the European currency accounted for about 40% of international settlements in the early 2010s, its share had fallen to approximately 23% by 2025.

EDB analysts note that the dollar’s strengthening is linked not only to the long-term growth of its popularity as a global settlement currency but also to the rise in geopolitical risks in recent years. Against the backdrop of global instability, businesses and financial institutions continue to rely on the U.S. currency.

At the same time, the Chinese yuan is gradually gaining ground. In 2023–2025, its share in international settlements rose to 3.6%, whereas in 2020–2021 it stood at around 2%.

However, experts emphasize that the growing role of the yuan and other alternative currencies is currently more of a sporadic phenomenon linked to the changes of 2023, rather than indicative of the emergence of a sustainable new global trend.