Peak Level: Percentage Points and Chinese Yuan

peak level: The dollar's share dropped slightly to 61.7%. That is down more than 7 percentage points from its peak level before the global financial crisis of 2007-2009, according to CTV. It's primarily diversification away from the dollar, which benefits the euro, ECB executive board member Benoit Coeure said. The euro's share of measurable foreign reserves held by central banks and governments around the world rose 1.2 percentage points during 2018 to 20.7%, reversing a declining trend. The dollar, however, is still very much the dominant currency for international trade, borrowing and reserves, despite a slow diversification toward other currencies over recent years, most recently toward the Chinese yuan. Russia sold about 100 billion worth of U.S. dollar-denominated assets in the wake of new rounds of U.S. sanctions, making the euro Moscow's main currency holding with 39% of reserves. Factors affecting the dollar's use include countries selling dollars to support their own currency, and U.S. financial sanctions such as those against Russia, which has moved some holdings to other currencies to avoid U.S restrictions. (www.immigrantscanada.com). As reported in the news.