Euro's share in foreign exchange holdings fell by 1% to 20% in 2023, favoring the US dollar and Japanese yen.
The Euro's share in foreign exchange holdings fell by 1% to 20% in 2023, as its role as a reserve currency decreased in favor of the US dollar and Japanese yen. The European Central Bank (ECB) reported that official reserve managers sold €100bn worth of euro assets. This decline began at the start of the decade and the ECB has argued that the EU needs increased financial integration to reverse the trend.
June 12, 2024
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