Dollar's share of foreign reserves sinks to new low while gold, yen rise

Rising interest rates help lift Japanese currency's share for third straight year

While the dollar's share of foreign currency reserves has fallen to a fresh low, countries such as Russia increasingly favor gold. (Source photos obtained by Nikkei)

AOI IIDA

May 15, 2025 05:20 JST

TOKYO -- The dollar's share of global foreign exchange reserves sank to its lowest year-end level on record in 2024 as countries increasingly broadened their holdings to rely less on a single asset.

The greenback accounted for 57.8% of the world's $12.36 trillion in reserves, according to International Monetary Fund data, falling 0.6 percentage point on the year to the lowest point in data going back to 1995. The dollar's share had topped 70% at its peak around 2000.