Dollar dominance still persists! Global demand for the dollar hits a record high 🇺🇸💵

📊 Offshore dollar deposits held by foreign banks soar to about $14.5 trillion, a new record, up more than 220% from $4.5 trillion at the beginning of the century 📈, while offshore euro deposits outside the Eurozone are only about $3.5 trillion, a huge gap
💱 The dollar's position as the dominant international payment currency remains solid. SWIFT data shows that the dollar accounts for 50.49% of global payments, far surpassing the euro's 21.9% and the pound's 6.73%
🏦 The dollar's share in global foreign exchange reserves remains high at 56.77%, although it has been in a long-term oscillating downward trend, it still far exceeds the euro's approximately 20%
🌍 The Federal Reserve and commercial banks within the United States hold over $19 trillion. Offshore dollar deposits now account for about 43% of domestic bank deposits in the US, with no other currency approaching this ratio!
🔹 This indicates that "de-dollarization" is far from being a popular "downward channel." About 56% of global trade is settled in dollars, and 60% of offshore financing is dollar-denominated. Even amid increasing geopolitical uncertainties and countries promoting reserve diversification, the dollar's absolute dominance and economic fundamentals remain difficult to shake 🏛️✨
#去美元化 #Dollar hegemony #全球金融 #Federal Reserve #SWIFT #Foreign exchange reserves #International monetary system