Global Macro Service > Research Briefings > Global

Reports of the dollar’s demise greatly exaggerated

Speculation that the dollar could lose its status as the world’s main reserve currency “sooner rather than later” looks, in our view, wide of the mark. Across a range of international uses, the dollar accounts for 40-60% of transactions – a share that has been stable or even increasing in recent years. Potential rivals are far behind, especially the Chinese renminbi, which accounts for just 1-2% of transactions. As a result, the dollar’s pre-eminence looks unlikely to be seriously threatened for many years to come. The US’s gains from the dollar’s global role may also be more modest than often thought.

To read the full briefing please
If you are not a subscriber, request a free trial of our Global Macro Service by filling out the form below