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.
Currencies
US dollar loses shine as reserve currency for emerging economies
Washington's growing deficit drives central banks to euro, yen and gold
As the coronavirus exacerbates the so-called twin deficit in the U.S., the dollar may be starting to lose its draw as a reserve currency. © Reuters
Read Next
.jpg?width=178&fit=cover&gravity=faces&dpr=2&quality=medium&source=nar-cms&format=auto&height=100)
Latest on Currencies
