{"id":182255,"date":"2020-12-26T16:21:47","date_gmt":"2020-12-26T16:21:47","guid":{"rendered":"https:\/\/www.bnreport.com\/?p=182255"},"modified":"2020-12-26T16:44:05","modified_gmt":"2020-12-26T16:44:05","slug":"global-dollar-reserves","status":"publish","type":"post","link":"https:\/\/www.bnreport.com\/en\/global-dollar-reserves\/","title":{"rendered":"Global dollar reserves declines in Q3"},"content":{"rendered":"\n<p>International Monetary Fund (IMF) said that the global dollar reserves in 2020 Q3 declined to 60.4%, compared to 61.2% in Q2. But, dollar reserves in world\u2019s central banks remain the largest.<\/p>\n\n\n\n<p>In 2020 Q1, dollar global reserves were 61.5%. This indicates that the share has declined for two consecutive quarters.<\/p>\n\n\n\n<p>The United States has pumped billions of dollars into the markets in 2020. The US Congress approved this stimulus plan in an attempt to revive the economy severely affected by the Coronavirus.<\/p>\n\n\n\n<p>Global reserves are assets of various currencies held by central banks mainly used to support their liabilities. Sometimes, central banks use reserves to support their domestic currencies.<\/p>\n\n\n\n<p>According to IMF, global dollar reserves increased to a record $12.254 trillion in Q3 from $12.012 trillion in the Q2.<\/p>\n\n\n\n<p>Total reserves in US dollars reached $6.937 trillion, that is 60.4% of the reserves set aside in Q3. Dollar reserves were $6.899 trillion in Q2, that is 61.2%.<\/p>\n\n\n\n<h5 class=\"wp-block-heading\"><strong>Dollar future<\/strong><\/h5>\n\n\n\n<p>Questions have been rising recently about the future of the dollar; will it preserve its status, or decline due to the US geopolitical power decline, huge debts and the emergence of alternative currencies.<\/p>\n\n\n\n<p>&nbsp;\u201cThe dollar will one day lose its status,\u201d said David Rosenberg, chief economist and strategist at Rosenberg Research, in his latest research note. \u201cAs was the case with every global reserve currency before it, but the chances of this happening in our lifetime are exceedingly low\u201d.<\/p>\n\n\n\n<p>\u201cThe depth of dollar dominance is overwhelming and shows no immediate signs of drying up, even in the aftermath of Covid-19,\u201d he added.<\/p>\n\n\n\n<p>The dollar has fallen 6.4% since the beginning of this year \u2013 the currency\u2019s worst annual performance since 2017.<\/p>\n\n\n\n<p>Rosenberg believes that the dollar is going through a downward cycle, but it is not on the brink of collapse.<\/p>\n\n\n\n<p>The euro\u2019s share of global reserves stabilized at 20.5% in the third quarter, compared with 20.1% in the second quarter, according to IMF. At its peak in 2009, the share of the euro was 28%.<\/p>\n\n\n\n<p><\/p>\n\n\n\n<p>Related:<\/p>\n\n\n\n<p><a href=\"https:\/\/www.scmp.com\/economy\/china-economy\/article\/3114072\/will-us-dollars-slide-erode-its-status-worlds-currency-choice\">Will the US dollar\u2019s slide erode its status as the world\u2019s currency of choice?<\/a><\/p>\n\n\n\n<p><\/p>\n","protected":false},"excerpt":{"rendered":"<p>International Monetary Fund (IMF) said that the global dollar reserves in 2020 Q3 declined to 60.4%, compared to 61.2% in Q2. But, dollar reserves in world\u2019s central banks remain the largest. In 2020 Q1, dollar global reserves were 61.5%. This indicates that the share has declined for two consecutive quarters. The United States has pumped [&hellip;]<\/p>\n","protected":false},"author":4,"featured_media":182258,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[202],"tags":[647,278,646],"class_list":["post-182255","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-finance","tag-dollar","tag-featured","tag-usa"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.6 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Global dollar reserves declines in Q3 - Business News Report<\/title>\n<meta name=\"description\" content=\"Business News Report - Finance IMF said global dollar reserves declined in Q3 to 60.4%, compared to 61.2% in the Q2.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.bnreport.com\/en\/global-dollar-reserves\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Global dollar reserves declines in Q3 - 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