Two in five large reserves holders reduce dollar allocations
Yet central banks’ FX holdings remain broadly denominated in US currency
Two-fifths of central banks with large foreign exchange reserves have reduced their allocations to the dollar over the past year, data from the Reserve Management Benchmarks 2025 shows.
The FX reserves held by individual central banks that responded to Central Banking’s benchmarking survey range from $400 million to $883.9 billion. The average figure is $57.9 billion.
Central Banking analysed changes in respondents’ currency allocations over the past 12 months. The breakdown shows that 41.2% of
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