The US dollar’s share of global foreign exchange reserves rose to 57.13% in the first quarter of 2026, up from 56.42% in the fourth quarter of 2025, according to IMF data. About half of that gain came from dollar appreciation rather than active central bank purchases, with total global FX reserves slightly declining to $13.10 trillion from $13.15 trillion. The dollar has fallen from roughly 71% of global reserves in 1999-2000 to approximately 57% today, a decline of about 14 percentage points over roughly 25 years. An OMFIF survey of 90 central banks and sovereign institutions found that a majority plan to reduce their dollar allocations over the coming decade, citing rising political risks as the primary driver. Gold surpassed US Treasuries as the top reserve asset held by central banks globally by 2025.
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