Managers divided on sanctions effect on US dollar as reserve currency

Over 43% say it will weaken its status, but nearly 40% say it will not have meaningful long-term impact

Reserve managers are divided about how the use of the US dollar as a foreign policy tool could affect its standing as the world’s reserve currency.

Data from the Reserve Benchmarks 2023 shows that out of 53 central banks that addressed the question, 23 (43.4%) said US financial sanctions on third countries will reduce the dollar’s share in reserves portfolios.

However, a similar number, 21 (39.6%), reported these measures will not have any meaningful impact over the long term.

A small number

Only users who have a paid subscription or are part of a corporate subscription are able to print or copy content.

To access these options, along with all other subscription benefits, please contact or view our subscription options here:

You are currently unable to copy this content. Please contact to find out more.

Sorry, our subscription options are not loading right now

Please try again later. Get in touch with our customer services team if this issue persists.

New to Central Banking? View our subscription options

Most read articles loading...

You need to sign in to use this feature. If you don’t have a Central Banking account, please register for a trial.

Sign in
You are currently on corporate access.

To use this feature you will need an individual account. If you have one already please sign in.

Sign in.

Alternatively you can request an individual account