De-dollarisation reshaping central bank reserves in 2024
De-dollarisation has grabbed headlines as the expanded Brics bloc plans for a common currency, reducing reliance on the dollar. Though a Brics currency is unlikely to threaten the dollar’s dominance soon, it signals geopolitics will increasingly shape reserve management.
Key findings from OMFIF’s Global Public Investor report, based on a survey of 75 managers controlling nearly $5tn in reserves include:
Dollar’s share of reserves expected to gradually fall five percentage points but remain above 50%Renminbi likely to rise from nearly 3% now to 6% of reserves in a decade
Sub-Saharan Africa and Asia Pacific central banks shifting from dollar to renminbi
Historical and predicted shares of dollar and renminbi in global reserves, %
Download the Global Public Investor 2023 report for insights on how de-dollarisation and geopolitics are impacting reserves.
