The dollar's dominance as a reserve currency eroded last year at 10 times the pace seen in the past 2 decades
The dollar's standing as a reserve currency of choice saw a steep decline in 2022 even though its strength in international trade remains unchallenged, according to Eurizon SLJ Asset Management.
The drop-off in the dollar's standing as a reserve currency accelerated since the start of the war in Ukraine in particular. Meanwhile, the euro's share as a reserve currency jumped by about 5%, Eurizon said, bringing its standing to the same level it hit in 2003 and effectively erasing two decades of losses.
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