The dollar remains absolutely dominant in the offshore banking system, with almost US$15 trillion in international deposits.
The euro is in second place with less than US$3 trillion.
What is noteworthy is the appearance of crypto solutions as a category on the chart for the first time.
It's still small, but the inclusion by the BIS and FT is a sign that stablecoins are beginning to be taken seriously as part of the global monetary system.
The narrative of de-dollarization must be treated with caution… Reduction in global reserves and investment portfolios? Perhaps…
Now, in the international banking system, the dollar continues at its highs.
@Solomonsatoshi
Yuan anyone?
The transition of global reserve currency from British pound to USD did not really occur in full until the 1956 Suez Crisis.
Hows TACO Trumps cluster fuck going in Hormuz?
The ability to project military power globally is fundamental to monetary hegemony.
Does USA still have it?
The clock it ticking...