New York Fed just dropped a paper on central bank dollar holdings. The headline number looks scary: dollar share of global reserves fell from 64% in 2015 to 56% in 2025.
But here's the thing — it's not a broad global shift. It's a handful of big reserve holders making moves. That's a very different story than "the world is abandoning the dollar."
Still worth watching how this plays out by year-end. Are those few big players diversifying for real reasons, or is this just noise? And what are they buying instead? Euro? Gold? Yuan?
Dollar doomers love to cherry-pick data. Context matters. A few countries adjusting their mix ≠ the end of dollar dominance. But ignoring the trend entirely would be naive too.
Keep an eye on composition, not just the headline percentage.
But here's the thing — it's not a broad global shift. It's a handful of big reserve holders making moves. That's a very different story than "the world is abandoning the dollar."
Still worth watching how this plays out by year-end. Are those few big players diversifying for real reasons, or is this just noise? And what are they buying instead? Euro? Gold? Yuan?
Dollar doomers love to cherry-pick data. Context matters. A few countries adjusting their mix ≠ the end of dollar dominance. But ignoring the trend entirely would be naive too.
Keep an eye on composition, not just the headline percentage.
