Where Data Tells the Story
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Central banks held $13.1 trillion in foreign exchange reserves at the end of 2025, with the U.S. dollar continuing to dominate global holdings.
Despite years of discussion around de-dollarization, reserve managers still keep the majority of their assets in dollar-denominated instruments. Meanwhile, the euro remains the leading alternative, and the Chinese renminbi’s share has slipped from recent highs.
This visualization shows how global foreign exchange reserves were allocated across currencies in Q4 2025, based on data from the IMF’s Currency Composition of Official Foreign Exchange Reserves (COFER) database.
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