U.S. dollar’s share of central bank reserves falls to 54% in 2012: World Gold Council
As the world’s central banks look to diversify their reserve portfolios, they’re cutting back on U.S. dollars and the euro and buying more gold, Japanese yen and Chinese yuan, according to a report released Wednesday from the World Gold Council.
The U.S. dollar’s share of total reserves fell from 62% in 2000 to 54% in 2012, according to the report.
Official reserves of global central banks grew to more than $12 trillion in 2012, from $2 trillion in 2000, the WGC said.
Data showed a significant shift away from the U.S. dollar over that 12-year period, and the share of “other” currencies in reserves has tripled in absolute terms since 2008, it said.