"The International Role of the U.S. Dollar" Post-COVID Edition, Accessible Data

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"The International Role of the U.S. Dollar" Post-COVID Edition, Accessible Data

Figure 1. U.S. share of world GDP vs. U.S. dollar share of international reserves, 2022

Percent

GDP	FX reserves
24.7	58.4

Note: U.S. share of 2022 nominal world GDP compared to the dollar’s share of globally disclosed foreign exchange reserves in 2022-Q4. At current exchange rates.

Source: IMF COFER; IMF World Economic Outlook database.

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Figure 2. Foreign exchange reserves

Percent

Year	U.S. dollar	Euro	British pound	Japanese yen	Chinese renminbi	Other
1999	71	17.9	2.9	6.4	NA	1.8
2000	71.1	18.3	2.8	6.1	NA	1.8
2001	71.5	19.2	2.7	5	NA	1.6
2002	66.5	23.7	2.9	4.9	NA	2
2003	65.4	25	2.9	4.4	NA	2.2
2004	65.5	24.7	3.5	4.3	NA	2
2005	66.5	23.9	3.7	4	NA	1.9
2006	65	25	4.5	3.5	NA	2
2007	63.9	26.1	4.8	3.2	NA	2
2008	63.8	26.2	4.2	3.5	NA	2.3
2009	62.2	27.7	4.3	2.9	NA	3
2010	62.2	25.8	3.9	3.7	NA	4.4
2011	62.7	24.4	3.8	3.6	NA	5.4
2012	61.5	24.1	4	4.1	NA	6.3
2013	61.3	24.2	4	3.8	NA	6.7
2014	65.2	21.2	3.7	3.5	NA	6.4
2015	65.7	19.1	4.7	3.8	NA	6.6
2016	65.4	19.1	4.3	4	1.1	6.1
2017	62.7	20.2	4.5	4.9	1.2	6.4
2018	61.8	20.7	4.4	5.2	1.9	6.1
2019	60.7	20.6	4.6	5.9	1.9	6.2
2020	58.9	21.3	4.7	6	2.3	6.7
2021	58.8	20.6	4.8	5.5	2.8	7.5
2022	58.4	20.5	4.9	5.5	2.7	8

Note: Share of globally disclosed foreign exchange reserves. At current exchange rates. Data are annual and extend from 1999 through 2022. Legend entries appear in graph order from top to bottom. Chinese renminbi is 0 until 2015-Q2.

Source: IMF COFER.

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Figure 3. Foreign holdings of government debt

3a. Holdings of marketable U.S. Treasuries
Percent

Year	Federal Reserve	Domestic	Foreign
1999	14.8	52.3	32.9
2000	17.4	47.9	34.7
2001	18.8	44	37.2
2002	19.8	39.8	40.4
2003	18.8	38.7	42.6
2004	18.3	35.4	46.3
2005	18	34.1	47.9
2006	18.1	32.4	49.5
2007	16.5	30.6	52.9
2008	8.3	35.2	56.5
2009	10.7	38.5	50.8
2010	11.6	37.9	50.5
2011	16.8	32.7	50.5
2012	17.9	31.6	50.5
2013	19.8	31.3	48.9
2014	21.9	28.7	49.3
2015	20.3	33	46.7
2016	19	37.7	43.2
2017	18.2	38.7	43
2018	15	44.7	40.3
2019	15.3	43.1	41.6
2020	25.1	40.1	34.8
2021	26.8	38.8	34.3
2022	21.2	47.8	31

Note: Figure 3a legend entries appear in graph order from top to bottom. Figure 3b excludes domestic central bank holdings. Intra-euro area holdings of euro area debt securities are considered domestic holdings. General government debt securities includes local, state, and national debt securities. Figure 3a. data are annual and extend from 1999 through 2022. 2022 is 2022-Q3. Figure 3b. Data are quarterly and extend from 1999-Q1 through 2022-Q3.

Source: Financial Accounts of the United States, Table L.210. BIS debt securities statistics; World Bank/IMF Quarterly External Debt Statistics (QEDS), accessed through Haver Analytics; Bank of England; Bank of Japan; European Central Bank; Federal Reserve Board; Board staff calculations.

3b. Share of general government debt securities held by foreign investors
Percent

Date	United States	Euro area	United Kingdom	Japan
3/31/1999	NA	NA	20.6	NA
6/30/1999	NA	NA	20.1	NA
9/30/1999	NA	NA	18.1	NA
12/31/1999	NA	NA	18	NA
3/31/2000	NA	NA	18.3	NA
6/30/2000	NA	NA	17.2	NA
9/30/2000	NA	NA	17.7	NA
12/31/2000	NA	NA	18.8	NA
3/31/2001	NA	NA	17.8	NA
6/30/2001	NA	NA	19.4	NA
9/30/2001	NA	NA	19.1	NA
12/31/2001	NA	NA	19.2	NA
3/31/2002	NA	NA	17.9	NA
6/30/2002	NA	NA	17.9	NA
9/30/2002	NA	NA	17.3	NA
12/31/2002	NA	NA	17	NA
3/31/2003	NA	NA	17.2	5.2
6/30/2003	31.2	NA	17.6	4.9
9/30/2003	32.3	NA	18	4.3
12/31/2003	33.2	NA	18.9	4.8
3/31/2004	30.7	NA	19.6	5.3
6/30/2004	33	NA	20	5
9/30/2004	33.2	NA	21	5.8
12/31/2004	33.5	NA	21.2	5.8
3/31/2005	34	NA	21.8	5.9
6/30/2005	32.2	NA	22.1	6.7
9/30/2005	32.8	NA	23.9	6.4
12/31/2005	33.9	NA	24.4	6.6
3/31/2006	33.9	NA	25.1	6.6
6/30/2006	33.5	NA	24.9	7.6
9/30/2006	34	NA	26.4	7.4
12/31/2006	34.8	NA	28.3	7.8
3/31/2007	35.2	NA	28.6	8.3
6/30/2007	35.5	NA	31.1	8
9/30/2007	35.5	NA	30.6	9.3
12/31/2007	36.2	NA	31.3	10.3
3/31/2008	36.5	23.4	31.6	10
6/30/2008	36	23.8	32.6	10.7
9/30/2008	36.3	25.7	35.3	11.6
12/31/2008	37.1	34.6	33.1	9.3
3/31/2009	37.8	34.7	34.3	9.4
6/30/2009	38.2	35.1	32.4	9.1
9/30/2009	38.2	35.6	30.3	8.6
12/31/2009	38.2	35.2	30.1	8.2
3/31/2010	38.2	35.5	32	7.6
6/30/2010	38.2	36	33.1	8.1
9/30/2010	39.2	36	33.7	8.8
12/31/2010	39.5	32.5	34.1	8.5
3/31/2011	41.8	32.1	32.8	9.2
6/30/2011	42.7	33.1	32.4	9.6
9/30/2011	43.3	34.8	32.9	10.6
12/31/2011	42.7	33.3	33.6	10.8
3/31/2012	42	32.1	33.6	10.8
6/30/2012	43.4	31.7	33.2	11.4
9/30/2012	44.1	32.7	33.2	11.9
12/31/2012	44	33.2	32.9	11.4
3/31/2013	45.2	33.6	34.4	11.6
6/30/2013	44.6	32.6	34	11.8
9/30/2013	45	32.5	31.4	11.6
12/31/2013	45.8	32.7	32.2	12.1
3/31/2014	46.6	34.2	31.7	12.4
6/30/2014	47.5	35.5	30.9	12.7
9/30/2014	47.6	35.3	31.8	13.6
12/31/2014	47.3	35.6	28.4	14.8
3/31/2015	47.8	37.9	29.5	15.5
6/30/2015	46.7	35.7	29.4	15.6
9/30/2015	45.7	35.5	30	16.9
12/31/2015	45.1	36.1	31.8	18.8
3/31/2016	45.1	36.8	31.4	19.6
6/30/2016	44.5	37.4	31.6	20.4
9/30/2016	43.1	37.7	32	21.4
12/31/2016	42.1	36	33.4	22.2
3/31/2017	42.5	36	32.3	22.4
6/30/2017	42.8	35.8	32.2	22.9
9/30/2017	43.5	35.4	32.6	23.5
12/31/2017	42.1	36.2	32.8	24
3/31/2018	41.3	36.4	32.2	24.1
6/30/2018	41.1	34.8	32.3	25.6
9/30/2018	40.5	34	32.9	26.1
12/31/2018	39.3	32.7	33.4	27.4
3/31/2019	39	34.1	32.7	28.4
6/30/2019	39.5	35.7	33.3	29.1
9/30/2019	39.3	37.4	33.8	29.2
12/31/2019	38.7	36.4	35	28.7
3/31/2020	39.9	37	35.3	29
6/30/2020	36.8	38	33.5	28.8
9/30/2020	36.5	38.5	32.9	29
12/31/2020	36	29.4	32.7	30.4
3/31/2021	36	30.8	33.9	30.5
6/30/2021	38.1	31	34.4	30.3
9/30/2021	38.8	30.6	34.9	30.3
12/31/2021	38.9	29.6	34.6	32
3/31/2022	38.2	30.9	36.9	29.1
6/30/2022	37.7	31.5	41.5	29.5
9/30/2022	36.9	32.8	45.4	30.2
12/31/2022	NA	NA	NA	NA

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Figure 4. Foreign holdings of U.S. dollar banknotes

4a. Share of U.S. dollar banknotes
Percent

Quarter	Share
12/31/2002	36.4
3/31/2003	36.8
6/30/2003	36.2
9/30/2003	36.2
12/31/2003	35.7
3/31/2004	35.8
6/30/2004	36.2
9/30/2004	36.4
12/31/2004	35.9
3/31/2005	35.9
6/30/2005	35.5
9/30/2005	35.5
12/31/2005	35.4
3/31/2006	35.6
6/30/2006	35.1
9/30/2006	34.9
12/31/2006	34.6
3/31/2007	34.3
6/30/2007	33.9
9/30/2007	34
12/31/2007	32.9
3/31/2008	32.5
6/30/2008	32.3
9/30/2008	32.5
12/31/2008	33.9
3/31/2009	34.7
6/30/2009	34.3
9/30/2009	34.6
12/31/2009	33.8
3/31/2010	33.9
6/30/2010	33.8
9/30/2010	34.5
12/31/2010	34.8
3/31/2011	35.3
6/30/2011	36
9/30/2011	36.5
12/31/2011	37
3/31/2012	37.9
6/30/2012	38.1
9/30/2012	38.9
12/31/2012	39
3/31/2013	39.1
6/30/2013	39.4
9/30/2013	40
12/31/2013	39.8
3/31/2014	40.8
6/30/2014	41
9/30/2014	41.1
12/31/2014	41.6
3/31/2015	42
6/30/2015	41.7
9/30/2015	42.1
12/31/2015	41.9
3/31/2016	42.3
6/30/2016	42.3
9/30/2016	42.5
12/31/2016	42.4
3/31/2017	43
6/30/2017	43.4
9/30/2017	43.8
12/31/2017	44
3/31/2018	44.4
6/30/2018	44.8
9/30/2018	45.4
12/31/2018	45.2
3/31/2019	45.3
6/30/2019	45.4
9/30/2019	45.8
12/31/2019	45.9
3/31/2020	45.8
6/30/2020	44.9
9/30/2020	45.2
12/31/2020	45.5
3/31/2021	44.7
6/30/2021	44.5
9/30/2021	44.5
12/31/2021	44.5
3/31/2022	44.7
6/30/2022	44.6
9/30/2022	44.7
12/31/2022	44.7

Note: The exact amount of U.S. dollar banknotes held by foreigners is not known and this is most likely a conservative estimate; see Judson (2017). Data are quarterly and extend from 2002-Q4 through 2022-Q4.

Source: Financial Accounts of the United States, Table L.204; Factors Affecting Reserve Balances (H.4.1), Table 1; Board staff calculations.

4b. Amount of U.S. dollar banknotes
Billion ($)

Quarter	Value
12/31/2002	248.061
3/31/2003	251.852
6/30/2003	250.314
9/30/2003	251.925
12/31/2003	258.652
3/31/2004	255.71
6/30/2004	264.248
9/30/2004	267.921
12/31/2004	271.953
3/31/2005	270.244
6/30/2005	270.048
9/30/2005	272.329
12/31/2005	280.4
3/31/2006	280.435
6/30/2006	278.09
9/30/2006	275.769
12/31/2006	282.627
3/31/2007	276.462
6/30/2007	274.827
9/30/2007	275.482
12/31/2007	271.952
3/31/2008	265.202
6/30/2008	265.432
9/30/2008	271.277
12/31/2008	301.139
3/31/2009	312.955
6/30/2009	311.02
9/30/2009	315.199
12/31/2009	313.771
3/31/2010	316.036
6/30/2010	318.136
9/30/2010	328.65
12/31/2010	342.09
3/31/2011	354.666
6/30/2011	368.655
9/30/2011	378.269
12/31/2011	397.086
3/31/2012	415.143
6/30/2012	422.259
9/30/2012	438.415
12/31/2012	454.227
3/31/2013	459.184
6/30/2013	468.67
9/30/2013	481.334
12/31/2013	491.94
3/31/2014	517.109
6/30/2014	523.639
9/30/2014	529.702
12/31/2014	558.205
3/31/2015	569.713
6/30/2015	569.089
9/30/2015	582.453
12/31/2015	596.575
3/31/2016	609.153
6/30/2016	616.337
9/30/2016	624.279
12/31/2016	638.886
3/31/2017	659.65
6/30/2017	675.48
9/30/2017	691.33
12/31/2017	708.592
3/31/2018	725.562
6/30/2018	744.953
9/30/2018	764.559
12/31/2018	773.923
3/31/2019	779.172
6/30/2019	788.528
9/30/2019	807.638
12/31/2019	825.217
3/31/2020	851.231
6/30/2020	880.63
9/30/2020	917.491
12/31/2020	946.542
3/31/2021	956.634
6/30/2021	969.284
9/30/2021	976.605
12/31/2021	994.889
3/31/2022	1012.314
6/30/2022	1015.223
9/30/2022	1018.686
12/31/2022	1029.933

Source: Financial Accounts of the United States, Table L.204; Factors Affecting Reserve Balances (H.4.1), Table 1; Board staff calculations.

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Figure 5. Share of export invoicing

Percent

Currency	Americas	Asia-Pacific	Europe	Rest of World
U.S. dollar	96.3	74	23.1	79.4
Euro	1.6	5	66.1	14
Other	2	21	10.8	6.6

Note: Average annual currency composition of export invoicing, where data are available. Data extend from 1999 through 2019. Regions are those defined by the IMF. Legend entries appear in graph order from top to bottom. The value for Europe includes within-euro area trade.

Source: IMF Direction of Trade; Central Bank of the Republic of China; Boz et al. (2020); Board staff calculations.

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Figure 6. Share of international and foreign currency banking claims and liabilities

6a. Claims
Percent

Year	U.S. dollar	Euro	British pound	Japanese yen	Other
1999	52	18.2	5	15.7	9
2000	54	19.3	5	13.3	8.4
2001	55.8	20.5	6.3	9.7	7.8
2002	52.3	24.9	6.3	8.7	7.8
2003	51	28	6.5	7.2	7.4
2004	51.4	28.4	6.3	6.4	7.5
2005	53.3	26.5	6.4	6.1	7.6
2006	52.7	27.7	7.5	4.2	8
2007	49	28.4	8.7	5.4	8.5
2008	52	27.7	6.4	5.9	8
2009	52.6	27.4	6.5	4.7	8.7
2010	54.6	24.9	5.8	5.4	9.2
2011	55.9	24.3	5	5.7	9.1
2012	53.5	25.2	5.6	5.9	9.9
2013	54.5	23.7	5.2	5.8	10.8
2014	60.7	20.6	4.7	4.8	9.3
2015	64.1	18.2	4.5	4.2	9
2016	65.5	17.2	4.3	4.6	8.3
2017	62.3	19.7	4.7	4.4	8.9
2018	60.4	21.4	5	4.9	8.3
2019	59.6	21.6	5.4	4.5	8.9
2020	57.2	22.8	5.4	5.4	9.2
2021	59.2	20.9	5.2	4.3	10.4
2022	58.3	21.9	5	5.6	9.2

Note: Share of banking claims and liabilities across national borders or denominated in a foreign currency. Banking claims and liabilities are defined as loans and deposits only, including repurchase agreements. Excludes claims on and liabilities to related banking offices and central banks. Also excludes intra-euro area cross-border claims and liabilities. At current exchange rates. Data are annual and extend from 1999 through 2022. Legend entries appear in graph order from top to bottom.

Source: BIS locational banking statistics; Board staff calculations.

6b. Liabilities
Percent

Year	U.S. dollar	Euro	British pound	Japanese yen	Other
1999	56	20.3	5.6	9.3	9
2000	57.7	20.1	5.5	8.2	8.4
2001	58.1	21.2	6.9	5.6	7.8
2002	54.7	25.1	6.9	5.3	7.8
2003	54	27.5	7.2	4.9	7.4
2004	53.7	28.1	7.2	4.8	7.5
2005	55.8	26.1	6.9	4.6	7.6
2006	55.6	26.4	7.8	3.3	8
2007	52.9	27.1	9.2	4	8.5
2008	55.4	26.5	7	4.7	8
2009	54.6	27.2	7	3.7	8.7
2010	56.5	25.4	6.3	4.1	9.2
2011	57.7	24.9	5.2	4	9.1
2012	56.2	25.3	5.9	3.7	9.9
2013	55.7	24.3	6.1	4	10.8
2014	60.1	20.1	4.6	4.2	9.3
2015	62.2	17.9	4.4	3.9	9
2016	63.7	17.7	4	4.3	8.3
2017	62.3	19	4.1	3.7	8.9
2018	60.4	20.4	4.3	4.2	8.3
2019	60.8	19.4	4.3	4.3	8.9
2020	60.9	19.2	4.4	3.9	9.2
2021	62	17.7	4.4	3.3	10.4
2022	61.6	18.2	4.1	4	9.2

Source: BIS locational banking statistics; Board staff calculations.

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Figure 7. Central bank swap lines

Figure 7a. Federal Reserve swap line provisions by counterparty central bank
The x-axis of the Global Financial Crisis panel starts at the beginning of 2008 and ends at the beginning of 2014. The y-axis denotes the Federal Reserve swap line amount, starting from zero and going to a maximum of 700 billion U.S. dollars. Each shaded area represents the amount of dollar funding usage by a different foreign central bank, with the colors matching the legend on the right. The stacked lines in aggregate show the total amount of dollar funding over time. The total amount starts at zero but quickly increases to a maximum of nearly $600 billion around early 2009. Then it declines back to zero around the beginning of 2010. During this time, about half of the increase is accounted for by provision to the European Central Bank. Next, there is a brief and very small increase around the middle of 2010 of less than $10 billion, but the total amount stays at zero afterwards. The next significant increase occurs just before the start of 2012, with the total amount rising to slightly over $100 billion. Then, it quickly decreases to less than $50 billion and slowly tapers to zero by the middle of 2013, where it remains until the end. During this time, almost all of the increase is due to provision to the European Central Bank.

The x-axis of the COVID panel starts at the beginning of 2020 and ends on the beginning of 2023. The y-axis denotes the Federal Reserve swap line amount, starting from zero and going to a maximum of $700 billion U.S. dollars. Each shaded area represents the amount of dollar funding usage by a different foreign central bank, with the colors matching the legend on the right. The stacked lines in aggregate show the total amount of dollar funding over time. The total amount starts at zero but quickly increases to a maximum of around $450 billion in the second quarter of 2020. Of this $450 billion, approximately $150 billion is accounted for by the European Central Bank and about $200 billion by the Bank of Japan. The total then declines rapidly to nearly zero towards the end of 2020. However, it increases slightly to almost 15 billion around the start of 2021 and declines to zero by early 2021. The total amount remains at zero until the end except for two brief and very small increases, one at the start of 2022 and the other towards the end of 2022.

Figure 7b. Federal Reserve and European Central Bank swap line provisions
The x-axis of the Global Financial Crisis panel starts at the beginning of 2008 and ends at the beginning of 2014. The y-axis denotes the swap line amounts provided by the Federal Reserve and European Central Bank, respectively, starting from zero and going to a maximum of $700 billion U.S. dollars. The dashed blue line shows the total amount of Federal Reserve swap line provision over time. The total amount starts at zero but quickly increases to a maximum of nearly $600 billion around 2009. Then it declines back to zero around the beginning of 2010. There is a brief and very small increase around the middle of 2010 to less than $10 billion, but the total amount stays at zero afterwards. The next significant increase occurs just before the start of 2012, with the total amount rising to slightly over $100 billion. Then it quickly decreases to less than $50 billion and slowly declines to zero by the middle of 2013, where it remains until the end. The solid orange line shows the total amount of ECB funding over time. The total amount stays at (or very near) zero for the entire period except for an increase to around $50 billion near the end of 2008, which declines to zero just after the start of 2009.

The x-axis of the COVID panel starts at the beginning of 2020 and ends at the beginning of 2023. The y-axis denotes the swap line amounts provided by the Federal Reserve and European Central Bank, respectively, starting from zero and going to a maximum of $700 billion U.S. dollars. The dashed blue line shows the total amount of Federal Reserve swap line provision over time. The total amount starts at zero but quickly increases to a maximum of around $450 billion before the middle of 2020. Then it rapidly declines to nearly zero towards the end of 2020. However, it increases slightly to almost $15 billion around the start of 2021 and declines to zero by early 2021. The total amount remains at zero until the end except for two brief and very small increases, one at the start of 2022 and the other towards the end of 2022. The solid orange line shows the total amount of ECB funding over time. The total amount stays at (or very near) zero for the entire period.

Note: In Figure 7a legend entries appear in graph order from top to bottom. Federal reserve swap line provisions to the Bank of England, Bank of Japan, and other central are at or near 0 prior to September 2008. Provisions to the Swiss National Bank are at or near 0 prior to March 2008. Provisions for the Swiss National Bank and Bank of England are at or near zero after June 2009. Figure 7b includes both swap line and repo provisions by the European Central Bank for the COVID-19 period. At current exchange rates. Data are daily and extend from December 1, 2007 through December 31, 2013 for the Global Financial Crisis, and January 1, 2020 through April 30, 2023 for the COVID-19 period. Swap line provisions for the European Central Bank are 0 (or near 0 when shown in billions) before October 2008 and after February 2009.

Source: Federal Reserve Bank of New York; European Central Bank.

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Figure 8. Share of foreign currency debt issuance

Percent

Year	U.S. dollar	Euro	British pound	Japanese yen	Chinese renminbi	Other
2005	53.9	27.6	9.3	2.6	0	6.5
2006	54.7	27.2	11.4	1.4	0.1	5.3
2007	59.1	23	10.7	2.6	0.1	4.5
2008	63.3	22.8	6.9	3.4	0.2	3.3
2009	62.9	26.3	4.8	1.9	0.3	3.7
2010	71.7	19.5	2.2	2	0.3	4.3
2011	69.7	19.3	3.1	2.5	0.9	4.5
2012	72.4	15.1	4.4	2.4	1	4.7
2013	74.2	17	2.6	1.7	1.1	3.4
2014	68.6	21.6	3.6	1.4	1.5	3.2
2015	72.2	18.8	4.5	1.4	1	2.1
2016	72	20.1	3.7	1.3	1	1.9
2017	71.2	21.2	2.8	1.7	0.6	2.5
2018	70.8	18.9	5.6	1.4	1	2.2
2019	72	20.4	3	1.5	0.7	2.4
2020	71.7	20.5	3.3	1.4	0.8	2.3
2021	72.5	19.5	3.4	1	0.9	2.8
2022	69.7	20.7	3.2	1.7	2.2	2.6

Note: Foreign currency debt is denominated in a foreign currency relative to the country of the issuing firm (not the location of issuance). At current exchange rates. Data are annual and extend from 2005 through 2022. Legend entries appear in graph order from top to bottom. Chinese renminbi is 0 in 2005.

Source: Refinitiv; Board staff calculations.

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Figure 9. Share of over-the-counter foreign exchange transactions

Percent

Year	U.S. dollar	Euro	British pound	Japanese yen	Chinese renminbi	Other
2001	90	38	13	24	0	35
2004	88	37	16	21	0	38
2007	86	37	15	17	0	45
2010	85	39	13	19	1	43
2013	87	33	12	23	2	43
2016	88	31	13	22	4	42
2019	88	32	13	17	4	46
2022	88	31	13	17	7	44

Note: On a net-net basis at current exchange rates. Percentages sum to 200 percent because every FX transaction includes two currencies. Legend entries appear in graph order from top to bottom. Chinese renminbi is 0 until 2007.

Source: BIS Triennial Central Bank Survey of FX and OTC Derivatives Markets.

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Figure 10. Index of international currency usage

Index

Year	U.S. dollar	Euro	British pound	Japanese yen	Chinese renminbi
2001	68.1	26.4	7.9	9.8	0
2002	66	28.6	7.9	9.6	0
2003	65.4	29.6	8	9.3	0
2004	65	29.4	8.9	8.4	0
2005	65.7	28.7	8.9	8.2	0
2006	65.5	29.1	9.9	7.4	0
2007	65	28.5	9.9	6.9	0
2008	66.7	28.3	8.2	7.3	0.1
2009	66.2	29.6	7.7	6.5	0.1
2010	68.6	27.4	6.3	7.4	0.3
2011	68.5	26.8	6.2	7.5	0.5
2012	68.4	25.9	6.8	7.6	0.5
2013	69.4	24.6	6.1	8.4	0.8
2014	70.3	24	6	8.1	0.9
2015	72	22.2	6.4	8.1	0.8
2016	72.5	21.9	6.3	7.9	1.5
2017	71.1	22.9	6.2	8.2	1.5
2018	70.3	22.9	6.9	8.3	1.7
2019	70.2	23.4	6.4	7.2	1.7
2020	69.4	23.7	6.5	7.3	1.8
2021	70	22.8	6.5	6.8	1.9
2022	69	23.1	6.4	7.3	3

Note: Index is a weighted average of each currency’s share of globally disclosed FX reserves (25 percent weight), FX transaction volume (25 percent), foreign currency debt issuance (25 percent), foreign currency and international banking claims (12.5 percent), and foreign currency and international banking liabilities (12.5 percent). Because our data on foreign currency debt issuance only becomes available in 2005, we fill back the 2005 value to previous years.

Source: IMF COFER; BIS Triennial Central Bank Survey of FX and OTC Derivatives Market; Refinitiv; BIS locational banking statistics; Board staff calculations.

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Last Update: June 23, 2023

Board of Governors of the Federal Reserve System

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