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The International Monetary Fund released its quarterly report on global foreign-exchange reserves on Friday, and for dollar watchers, it sent some worrisome signals.The report revealed that the dollar's share of global reserves fell for the sixth straight quarter to the lowest since 2013, dropping to 62.3 percent in the three months ended June 30 from 62.5 percent in the prior period. It was 65.4 percent when President Donald Trump took office in January 2017.That may seem insignificant until you realize that it came in the face of a huge rally in the greenback, with the Federal Reserve's U.S. Trade Weighted Broad Dollar Index surging 4.52 percent. The last time the dollar's share of global reserves dropped when its value increased by at least 4 percent was in the final three months of 2008, when everyone thought the global financial system was in jeopardy of collapsing......https://www.bloomberg.com/view/articles/2018-09-28/dollar-s-exorbitant-privilege-takes-another-blow
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Topic: Dollar's ‘Exorbitant Privilege’ Takes Another Blow (Read 802 times)
