Dollar will stay dominant but influence to wane according to the Global Public Investor 2023
OMFIF’s Global Public Investor 2023 report goes further than ever before to unpack reserve managers’ economic views, investment plans and internal operations. This edition features insights from a survey of 75 central banks with international reserves of close to $5tn.
A net 6% of respondents expect to reduce their dollar holdings over the next 10 years. But this shift will be in line with the slow, decades-long trend of de-dollarisation. On average, respondents anticipate a decrease in the dollar’s share of total reserves to 54% in the next decade, from just under 60% now.
The renminbi will benefit, but will not be the only beneficiary. On average, respondents expect it will reach 6% of global reserves in 10 years’ time, from just under 3% now. Overall, central banks overwhelmingly predict the dollar to remain dominant and that the renminbi is unlikely to gain significant traction as a reserve asset anytime soon.
To find out more key findings from the Global Public Investor 2023, click below.
