When U.S. allies like Canada and France grumble about overuse of the U.S. dollar, and as Washington’s rivals like Iran start trading in cryptocurrencies and the Chinese yuan, it can be easy to argue that the world is edging away from the greenback. The U.S. dollar’s share of global foreign exchange reserves has fallen from 71% in 1999 to 57% in 2024, its lowest level in a quarter century.
But economists at Standard Chartered aren’t convinced.
