The global use of the US dollar has reached an unprecedented high.


Offshore dollar deposits held by banks outside the United States have surged to approximately $14.5 trillion, hitting a record high.
At the beginning of this century, this number was only about $4.5 trillion. Over more than twenty years, it has skyrocketed by 220%.
The comparison is even more striking: outside the Eurozone, offshore banks hold only about $3.5 trillion in euro deposits,
while the Federal Reserve and the US domestic banking system still hold over $19 trillion.
This means that the scale of offshore dollar deposits is already about 43% of US domestic bank deposits.
No other currency comes close to this ratio.
The global demand for the US dollar remains terrifyingly high.
View Original
This page may contain third-party content, which is provided for information purposes only (not representations/warranties) and should not be considered as an endorsement of its views by Gate, nor as financial or professional advice. See Disclaimer for details.
  • Reward
  • Comment
  • Repost
  • Share
Comment
Add a comment
Add a comment
No comments
  • Pin