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%.