View Single Post
Old 04-03-2023, 07:17 PM   #9643
timun
First Line Centre
 
Join Date: May 2012
Exp:
Default

As a point of comparison, the "opened floodgates" are so far a <3% takeup of the yuan as a reserve currency; slightly more than use of the Canadian dollar. Almost 60% of the world's reserves are still in US dollars, and more than 20% in euros. In the last ten years the US dollar's share has dropped about 3% and the euro's by about 3.5%, while the yen has gone up about 1.5%, pound has gone up about 1%, Canadian dollar up about 1%, and Australian dollar up about 0.5%. It's frankly not unexpected, as anyone dealing with Russia is essentially frozen out of using all of the other aforementioned currencies.
timun is offline  
The Following User Says Thank You to timun For This Useful Post: