Dollar's share in global reserves fell to 40%

According to Kobeissi Letter, the share of the dollar in global foreign exchange reserves has declined to approximately 40%, reaching the lowest level in twenty years. The analyst reported that the decline reflects growing shares of the euro and the Chinese yuan, as well as shifts in the global currency strategies of reserve-holding countries.

Context

Kobeissi Letter is an international analytical journal publishing statistical data on global foreign exchange reserves.