Is the US Dollar Losing Its Global Dominance? What the Data Really Shows

September 13, 2026

US dollar symbol under pressure from a falling chart, gold, yuan and other global currencies.
The US dollar has lost part of its share of global central-bank reserves, fuelling talk of de-dollarization. But reserves are only one measure of currency power. Data from the IMF, BIS and SWIFT show a far more nuanced picture.
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