Euro Slips Slightly to 25 percent as Reserve Currency

The USD still heads the list of reserve currencies with 62.1 percent of all reserves held in U.S. dollars. Both the USD and EUR had a slight dip but still retain their leading positions.

The single European currency made up 25.0 percent of countries’ holdings of foreign exchange reserves at the end of last year, down slightly from 25.4 percent at the end of 2010.
Countries hold on to foreign currencies — such as the U.S. dollar, the euro and Japan’s yen — to help manage their own currency’s exchange rate, as a buffer against financial crises and to service foreign currency debts and obligations.
The U.S. dollar’s role as the world’s No. 1 reserve currency remained stable, the ECB report found.

via Yahoo Finance

Content is for general information purposes only. It is not investment advice or a solution to buy or sell securities. Opinions are the authors; not necessarily that of OANDA Business Information & Services, Inc. or any of its affiliates, subsidiaries, officers or directors. If you would like to reproduce or redistribute any of the content found on MarketPulse, an award winning forex, commodities and global indices analysis and news site service produced by OANDA Business Information & Services, Inc., please access the RSS feed or contact us at info@marketpulse.com. Visit https://www.marketpulse.com/ to find out more about the beat of the global markets. © 2023 OANDA Business Information & Services Inc.