Read previewThe US dollar is in a state of "stealth erosion," the International Monetary Fund, or IMF, wrote in a report on Tuesday.
This effect masked the shift of central banks and governments out of dollar reserves.
Instead, the shares of "non-traditional reserve currencies" have risen, according to the IMF.
These include the Australian dollar, Canadian dollar, Chinese renminbi, South Korean won, Singaporean dollar, and Nordic currencies.
AdvertisementThe dollar's decline in FX reserves doesn't appear to be about sanctionsThe IMF's report comes amid ongoing discussions about de-dollarization.
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Organizations:
Service, International Monetary Fund, Business, US Federal Reserve, IMF, Canadian, South Korean, greenback
Locations:
Russia, Moscow, Ukraine