TOKYO -- The share of U.S. dollar-denominated assets in the world's foreign reserves sank for the fifth straight year in 2020 to 59%, its lowest level in a quarter century, as emerging economies like China and Russia diversify holdings amid concerns over the greenback's prospects.
As a trusted and liquid asset, U.S. government bonds have long been a go-to option in foreign reserves, which governments and central banks maintain as a backup fund of sorts in case of a monetary emergency.
