US Dollar’s Share in Currency Reserves Rises to Highest Levels Since 2018 in Q3 2019
According to data released by the IMF, the US dollar's share of currency reserves soared to the highest levels seen in a year during Q3 2019
According to data released by the IMF, the US dollar’s share of currency reserves soared to the highest levels seen in a year during Q3 2019, while the yen’s shares soared to the largest seen in 20 years. In the third quarter of 2019, currency reserves held in US dollars amounted to $6.75 trillion – 61.78% of allocate reserves. In the second quarter, US dollar’s share of currency reserves stood at $6.78 trillion or 61.49%.
Meanwhile, the Japanese yen’s share of allocated currency reserves worldwide climbed to 5.60% in Q3 2019, the highest share seen since 2000.
Currency reserves are significant quantities of foreign currencies held by central banks and monetary authorities around the world, and constitute a part of an economy’s forex reserves. Countries maintain currency reserves for international transactions and investments. The US dollar maintains its lead as the most preferred reserve currency worldwide.
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