Dollar share is at 47%. Biggest impact on the dollar was the sanctions on Russia – a strategy that was supposed to impact Russia, but instead sent everyone else rnning from the dollar.
“The dollar share went from 73% in 2001 to 55% in 2021, at which point it fell off a cliff, losing market share 10 times faster,” the economist detailed. “The dollar plunged 8 percentage points in share in a single year to just 47% so we lost about double the entire share of the Chinese yuan. And at that pace, the U.S. dollar would be eclipsed in about 6 years.”
He added: “Separate data from central banks around the world confirm that after decades of complacency, the landscape is shifting.”
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