The dollar's share of global FX reserves declined from about 70% at the turn of the millennium to about 58% now, but the dollar's loss was not the euro's gain — the euro held stable around 20% while non-traditional reserve currencies and gold absorbed the shift.

factualpending

Speaker

Moritz Schularick

Evidence Quote

the dollar's loss if you will was not the euro's gain

Source

The changing dollar regime: An updatePeterson Institute for International Economics
Created: 6/18/2026, 1:57:48 PM

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