The share of the dollar in central bank reserves is declining

The share of the dollar in international central bank reserves continues to decline, but it is premature to talk about its loss of key positions in the global financial system. On the contrary, in calculations and banking operations, the American currency remains stable and is even strengthening its influence, according to analysts at the EBRD.

According to international statistics, over the past 25 years, the share of the dollar in foreign exchange reserves has fallen from 61% in 2000 to 45% at the end of 2024. This is a stable, long-term trend, reflecting central banks' desire to diversify their assets and reduce currency risks.

At the same time, the dollar is strengthening its position in the field of international settlements. Its share in payments through the SWIFT system has grown from 32% in 2010 to 49% in 2024. This growth was almost entirely due to a decline in the share of the euro, which indicates not so much a de-dollarisation as a redistribution of influence among key currencies.

The situation remains stable in international banking operations. The dollar's share in the assets and liabilities of global banks is below the peak values of 2016, but since 2020, the indicators have changed insignificantly, demonstrating continued confidence in the dollar as the main settlement and credit currency.