International Monetary Fund: The US dollar's share of global reserves rose in the first quarter

The International Monetary Fund said that the dollar’s share of currency reserves rose to 59% in the first quarter of this year, compared to 58.6% in the fourth quarter of 2022, and the euro’s share fell to 19.8% in the first quarter, compared to 20.4% in the fourth quarter of last year.

Global reserves that are reported in US dollars are central bank assets held in different currencies that are used in part to back up their liabilities, and central banks sometimes use reserves to help back their own currencies. The dollar index fell by about 0.9% in the first quarter after falling to 7.7% in the fourth quarter of last year, but the dollar index recovered slightly by 0.4% in the second quarter, and the euro rose by about 1.2% in the first quarter after rising by 9.3% in the fourth quarter of 2022.