The share of the US dollar in global financial settlements dropped in February, according to the SWIFT inter-bank transaction system.
The use of the greenback fell 1.07%, down to 39% of all global transactions conducted via SWIFT. However, on a yearly basis, the dollar’s share was still up by 0.42%.
The share of settlements in euro, on the other hand, rose in February by 1.23%, to 38%. The euro has increased the most among the top 5 global currencies year on year.
The Chinese yuan lost its position to the Japanese yen last month, dropping 0.97% and taking 2% in global calculations. However, the share of the yen in global settlements also decreased, and now stands at 3%.
Almost 18% of the other SWIFT transactions are split by the rest of the world, including Russia, India, the Middle East and South America.
RT. com / ABC Flash Point News 2022.