EURO'S RESERVE CURRENCY ROLE TUMBLES AT EXPENSE OF DOLLAR AND YEN
NEWS Desk Global

The share of the euro in foreign exchange holdings tumbled last year at the expense of the dollar and the yen, and further drops are possible whenever Russia becomes free to reduce its own euro stockpile.
The share of the euro among foreign reserves has been declining since the start of the decade and the ECB has long argued that the European Union must take another leap in financial integration if it was to reverse this trend. The euro's share among foreign reserves fell one full percentage point to 20% in 2023 and official reserve managers were net sellers of euro assets to the tune of around 100 billion euros.
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