What the U.S. Dollar Shares with Blockbuster Video and Sears

by Martin Baccardax
MSN

Corporate America is littered with the logos of former giants, from Sears to Blockbuster Video, highlighting the fact that dominance, while powerful, isn’t permanent. The U.S. dollar, the world’s reserve currency for the past sixty years, could potentially face a similar historic challenge.

At first glance, that looks unthinkable. Around half of all invoices for global trade are in greenbacks, according to data from the Brookings Institution, as is about two-thirds of global debt.

But its share of global reserves, the amount of dollars and other currencies held by foreign central banks, has been in sharp decline over the past two decades. According to figures from the International Monetary Fund published last year, it has fallen from around 72% in 2000, just after the birth of the euro, to around 56%.

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