A New York Fed study finds the decline in the dollar's share of official FX reserves reflects actions by a minority of reserve managers rather than widespread reallocation. The dollar accounted for 56% of official reserves last year versus 64% a decade earlier; researchers Linda S. Goldberg and Sneha Parthasarathy say since 2015 the number of countries increasing and decreasing dollar holdings has been roughly balanced. "There is little evidence of broad official diversification away from the do

A New York Fed study finds the decline in the dollar's share of official FX reserves reflects actions by a minority of reserve managers rather than widespread reallocation. The dollar accounted for 56% of official reserves last year versus 64% a decade earlier; researchers Linda S. Goldberg and Sneha Parthasarathy say since 2015 the number of countries increasing and decreasing dollar holdings has been roughly balanced. "There is little evidence of broad official diversification away from the dollar," they wrote.