The share of the US dollar in international settlements increased in August for the third month in a row, while the use of the euro fell to a minimum in more than two years, according to the SWIFT settlement system.
The share of the single European currency fell to 34.5%, which is 1 percentage point lower than in July. Meanwhile, the dollar continued to hold a leading position for the fifteenth month with a figure of 42.6% against 41.2% in July.
In August 2021, the euro accounted for 36% of global settlements, the US national currency – 39%.
Demand for settlements in dollars, considered a safe haven currency, has grown significantly in recent months, including due to the energy crisis in Europe and the ongoing full-scale war unleashed by Russia against Ukraine, Bloomberg notes.
The share of the Chinese yuan in international settlements last month reached a maximum since January – 2.3%. In July, it was 2.2%, and in August 2021 – 1.9%.
The pound sterling in the last month of the summer accounted for 6.5%, as in July. The share of the yen fell to 2.7% from 2.8%. In August last year, the figures were at the level of 6.7% for the British currency and 3.6% for the Japanese.
EURO, international settlements
