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The US dollar's global standing as the top reserve currency has lost ground to China's yuan and others, says IMF
The dollar share of international reserves has been in decline over the past two decades as central banks look to diversify their holdings into the Chinese yuan and other currencies, according to a new report by the International Monetary Fund. The dent in the dollar's dominance, though, is not a consequence of fluctuations in exchange rates or interest rates, but instead it can be chalked up to the moves of other nations' central banks. The IMF noted that the dollar has been steadily offset as reserve managers primarily move into two alternative directions, with a quarter turning to the yuan and three-quarters ... (full story)
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