ECB paper sets out new dataset on trade invoicing currencies

US dollar
The dollar remains the dominant currency for trade invoicing

A new working paper published by the European Central Bank presents the most comprehensive dataset gathered to date on trade invoicing, shedding light on the “dominant currency paradigm”.

The team of economists gathered data from 35 advanced economies and 67 emerging and developing economies, accounting for 75% of world trade.

“Our dataset’s broad time-series coverage allows us to document several stylised facts about the evolution of global and regional trade invoicing,” the authors say.

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