Practically no one is phasing out the dollar for trade or foreign reserves, he said.
No one is dumping dollars," Christian said of de-dollarization in a recent presentation.
Its closest competitor, the euro, accounted for just 19% of all central bank reserves in 2022, down from around 29% several decades ago.
Advertisement"There has been a diversification of central bank foreign exchange holdings, but it's not at the expense of the dollar, and it's not away from the dollar," Christian said.
"Clearly people are buying dollars in a much greater volume than they are selling dollars," Christian said.
Persons:
Jeffrey Christian, —, Christian, it's, Chris Wallace, Wallace
Organizations:
CPM, Service, Bank of International Settlements, Monetary Fund, Federal
Locations:
Russia, China