The dollar's future is uncertain, but its current dominance remains stable. As a medium of exchange for goods and a unit of measure of value, the US dollar remains unrivaled. However, as a means of storing value, the latest reserve data shows that the dollar's position has continued to decline over the past 25 years. And this trend is likely to continue. The International Monetary Fund released the global foreign exchange reserve currency composition data for the third quarter of 2025, and made important methodological revisions to the historical data. According to new data, the share of the US dollar in global foreign exchange reserves fell further to 56.9% in the third quarter of 2025 — down from 57.1% in the previous quarter and 58.5% at the end of last year. Note that some of the changes may be affected by valuation effects: since the end of 2024, the dollar has depreciated by 8.1% against a basket of currencies.

The dollar's future is uncertain, but its current dominance remains stable. As a medium of exchange for goods and a unit of measure of value, the US dollar remains unrivaled. However, as a means of storing value, the latest reserve data shows that the dollar's position has continued to decline over the past 25 years. And this trend is likely to continue. The International Monetary Fund released the global foreign exchange reserve currency composition data for the third quarter of 2025, and made important methodological revisions to the historical data. According to new data, the share of the US dollar in global foreign exchange reserves fell further to 56.9% in the third quarter of 2025 — down from 57.1% in the previous quarter and 58.5% at the end of last year. Note that some of the changes may be affected by valuation effects: since the end of 2024, the dollar has depreciated by 8.1% against a basket of currencies.