Dollar Reserves Increase
Despite all the gnashing of teeth regarding the dollar ...
The IMF's authoritative Currency Composition of
Official Foreign Exchange Reserves (COFER) report last week indicated
that the dollar's share of global reserves (where the allocation is
reported) rose to 65%, to stand at its highest since 2007.
Though one would expect diversification by central banks into other currencies simply as prudent portfolio management, the simple fact is that there is no credible alternative to replace the dollar, nor will there be for many, many years.
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