Market News
Dollar cedes ground to euro in global reserves, IMF data shows - REUTERS
(Corrects July 9 story after the International Monetary Fund revised its Q1 data released to address reporting errors on Swiss franc and Australian dollar. Corrects headline, removes paragraph 3 and 7, updates first chart.)
By Karin Strohecker and Grant Smith
LONDON (Reuters) -The U.S. dollar's share of global currency reserves reported to the International Monetary Fund nudged lower to 57.7% in the first quarter of 2025 while the share of euro-denominated reserves gained, International Monetary Fund data showed. 
Shares of global currency reserves held in the greenback stood at 57.8% at the end of 2024, while the share of euros gained from 19.8% to 20.1% - their highest since late 2022, according to the IMF's Currency Composition of Official Foreign Exchange Reserves (COFER) data released on Wednesday.
Foreign currency markets have seen some dramatic swings since the start of the year.
The dollar lost nearly 4% in the first quarter of the year as some big policy swings from the administration under U.S. President Donald Trump, especially on trade, security and the economy, roiled market confidence in the world's foremost reserve currency.
The decline accelerated dramatically in the second quarter, when the dollar dropped more than 7% in the wake of Trump's introduction of sweeping tariffs on "Liberation Day" in early April - though some of those measures have been put on hold.
