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These charts are from the New York Fed paper titled "Are Central Banks Moving Out of Dollar Assets?" It finds that the fall in the share of the dollar in official foreign reserves around the world, from 64% in 2015 to 56% in 2025, "reflects the actions of a handful of large reserve holders" rather than "a systemic global shift away from dollar assets." It will be interesting to see what happens to both the magnitude and the composition by the end of this year. #economy #markets #dollar #centralbanks @NewYorkFed