US Dollar Share of Global FX Reserves (IMF COFER)

## What this measures

Reserves held in US Dollars as a percent of all official foreign exchange reserves whose currency is reported to the IMF (allocated reserves), at the end of each quarter.

## Why it matters

Which currencies central banks hold is the clearest measure of a currency's standing as a store of value. The dollar's slow drift down, and who gains from it, is a core question for the dollar, Treasury demand and sanctions risk.

## How to read it

A share of allocated reserves, so the currencies add up to 100 each quarter. Shares move with exchange rates as well as with central banks' choices: a weaker dollar lowers the dollar's share even if no reserve manager sells a dollar.

## What it does not say

Covers only the reserves whose currency composition is reported; before 2015 a large part of world reserves was unallocated. Individual countries' holdings are confidential. The renminbi, Australian and Canadian dollars are listed only from 2012 and 2016.

## Source

International Monetary Fund, Currency Composition of Official Foreign Exchange Reserves (COFER), read from the IMF data API (api.imf.org, dataflow IMF.STA/COFER). https://data.imf.org/ Attribution: Source: International Monetary Fund. Transformations by Palanor where stated. Palanor stores the IMF's figures as published, rounded to at most four significant decimals. IMF data is available free of charge from the IMF. Use follows the IMF Copyright and Usage terms, Special Terms for Statistical Data (imf.org/en/About/copyright-and-terms).