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Oliver Hannaoui

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Case report Sep 2026

Are Central Banks Moving Out of Dollar Assets?

The dollar’s share of global official foreign exchange reserves fell from 64 percent in 2015 to 56 percent in 2025. This downward trajectory is sometimes read as evidence that the dollar’s role in international financial markets is eroding. However, aggregate statistics obscure the composition of changes occurring at t...

Linda S. Goldberg, Oliver Hannaoui, Sneha Parthasarathy · 0 citations

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