US Dollar share of Global Foreign Exchange Reserves drops to 25-year low: IMF
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The share of US dollar reserves held by central banks fell to 59 per cent -- its lowest level in 25 years -- during the fourth quarter of 2020, according to a recent survey by IMF. Findings of the IMF's COFER survey say this partly reflects declining role of US dollar in global economy in the face of competition from other currencies used by central banks for international transactions.