The world is holding more US dollars than ever before.


Offshore USD deposits held outside the US have reached a record ~$14.5 trillion—an increase of about 220% from ~$4.5 trillion at the start of the century.
In comparison, only around ~$3.5 trillion in euros are held outside the Eurozone.
Meanwhile, the Federal Reserve and US commercial banks hold over ~$19 trillion.
This puts offshore USD deposits at roughly 43% of total US domestic bank deposits—far ahead of any other currency.
Global demand for the US dollar continues to remain extremely strong.
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