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.