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27 Mar, 2022 10:18

Dollar share drops in global transactions

US currency lost over 1% in February alone, according to SWIFT
Dollar share drops in global transactions

The share of the US dollar in global financial settlements dropped in February, according to the SWIFT interbank transaction system.

The use of the greenback fell 1.07%, down to 38.85% 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 37.79%. 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 2.23% in global calculations. However, the share of the yen in global settlements also decreased, and now stands at 2.71%.

For more stories on economy & finance visit RT's business section

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