Euro failing to challenge US dollar in global reserves – CBI Benchmarks data
Among non-European central banks euro sovereign debt accounts for just 4.1% of reserves
Negative interest rates in the eurozone, as well as debt fragmentation, are acting as major impediments to the wider adoption of the euro as a reserve currency worldwide, according to reserve managers.
At the end of 2018, the euro represented 20.3% of global foreign exchange reserves and last year it rose slightly to 20.5%, according to the latest annual report on the international role of the euro published by the European Central Bank. The US dollar remained the unchallenged leader with 60.9%
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