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

20250514N Currency

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

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.

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