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Could the euro replace the dollar as global reserve currency? It’s not getting any less likely

By Sergi Basco, Profesor Agregado de Economia, Universitat de Barcelona

A global reserve currency is one that is extensively held by foreign Central Banks. Since the 1944 Bretton Woods agreement this position has been occupied by the US dollar and it still holds true – according to IMF data from late 2024, the dollar represented 54% of global official reserves, while the euro came…

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