The Strategist

SWIFT notes record growth of international settlements in US dollar

09/28/2023 - 10:22

According to information from the worldwide interbank system SWIFT, the percentage of US dollar used in international settlements grew to 48.03% in August 2023 from 46.5% in July. This is the highest percentage in the five years that statistics have been kept.

The percentage of the euro decreased from 24.42% in July to 23.2% in August. For the period that statistics for the global system were being compiled, this is a record-low figure for the euro.

The British pound, whose share in foreign transactions dropped from 7.63% in July to 7.14% in August, holds third position in the ranking of the most used currencies.

Following that are the Chinese yuan (a record 3.47% in August and 3.06% in July) and the Japanese yen, whose shares increased from 3.06% to 3.68%.