No matter the metric, the US dollar clearly is the major global currency – This status has both upsides as well as downsides for the US economy

Share of USD and other currencies in the international monetary system, 2022

88.0
31.0
17.0
13.0
7.0
58.4
20.5
5.5
4.9
2.7
47.8
38.3
1.3
7.4
0.6
FX Turnover¹⁾
Composition of FX reserves
International debt denomination
1) Because two currencies are involved in each transaction, the sum of the percentage shares of individual currencies totals 200% instead of 100%. Adjusted for local and cross-border inter-dealer double-counting (i.e. “net-net” basis)

Source: BIS; IMF