Watcher Guru: De-dollarization at Record Pace: 15% Decline in Dollar Share of Global Reserves
Article by Vladimir Popescu in Watcher Guru
De-dollarization has hit new records in 2024. The US dollar’s share of global reserves has dropped 15% since 2016.
The influence of the BRICS currency grows stronger as more countries join their economic partnerships. IMF numbers show the dollar now holds 58% of global reserves, down from 73%.
Countries actively move toward other reserve currencies as financial structures transform worldwide. The decline in Dollar dominance reflects broader shifts in global reserve currency trends.
BRICS countries now hold major economic power. Their combined GDP equals 66% of US & Allies when measured in PPP. New members could push this above 90%, speeding up the dollar’s decline. This momentum is ......