The U.S. dollar’s share in global currency reserves could fall below 50% within the next decade as other currencies gain more prominence, according to a Czech central bank official.
Jan Kubicek, a board member at the Czech National Bank, stated on Tuesday that the dollar’s global reserve share might decline to approximately 47% in the coming years.
“Other currencies will emerge, probably (the) Chinese currency or some other emerging countries. For this reason the weight of dollar will decline,” Kubicek said during an Official Monetary and Financial Institutions Forum (OMFIF) webinar.
The comments came as central banks worldwide continue to assess their reserve currency allocations amid changing global economic dynamics.
