Dollar hegemony still exists! Global demand for the dollar hits a record high 🇺🇸💵

📊 Offshore bank holdings of dollar deposits soar to about $14.5 trillion, a record high, up more than 220% from $4.5 trillion at the beginning of the century 📈, while offshore euro deposits outside the Eurozone are only about $3.5 trillion, a huge gap
💱 The dollar's dominance in international payments remains solid. SWIFT data shows that the dollar accounts for 50.49% of global payments, far exceeding the euro's 21.9% and the British pound's 6.73%
🏦 The dollar's share in global foreign exchange reserves remains as high as 56.77%. Although it has been in a long-term oscillating decline, it still far surpasses the euro's approximately 20% share
🌍 The Federal Reserve and commercial banks within the United States hold over $19 trillion. Offshore dollar deposits now amount to about 43% of domestic bank deposits, with no other currency approaching this ratio!
🔹 This indicates that "de-dollarization" is far from being a popular "downward channel." About 56% of global trade is settled in dollars, and 60% of offshore financing is dollar-denominated. Even amid increasing geopolitical uncertainties and countries promoting reserve diversification, the dollar's absolute dominance and economic fundamentals remain difficult to shake 🏛️✨
#去美元化 #Dollar hegemony #全球金融 #Federal Reserve #SWIFT #Foreign exchange reserves #International monetary system