US dollar falls in global reserves in the third quarter

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25 December 2020

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Washington, Dec 25 (Prensa Latina) The dollar's share of global foreign exchange reserves fell today to 60.4 percent, but it remains the currency with the highest proportion in central banks, reported the International Monetary Fund (IMF).

Data marks a contraction in the third quarter compared to the previous period, when it stood at 61.2 percent, the IMF points out, adding that the greenback dropped 6.4 percent in 2020, its worst annual performance since 2017.

Regarding the reserves in dollars, the international organization explains they totaled 6.937 trillion dollars (million of millions) in the third quarter.

As for the euro, the share in world reserves held steady at 20.5 percent in the third quarter, compared with 20.1 the prior period, according to IMF data.

The European currency peaked in 2009 at 28 percent.

IMF data also showed that world reserves rose to a record $ 12.254 trillion in the third quarter, from $ 12.012 trillion in the prior period.

Global reserves are assets of central banks held in different currencies and are used primarily to back their liabilities.