In this present world full of so many uncertainty and disagreement between large
economies rise of the china and militarize use of the Dollar by USA, making dollar
less attractive as their reserve currency.
Now world is looking for the alternative reserve currency and start to move forward
to Euro after its introduction in 1999 and now countries are moving toward Euro, Yen
or Yuan but still lot of countries are not having much trust in these new currency
so they are moving towards gold as well.
But Still American Dollar is the most demanding reserve currency in the world.
Below is the list of the few countries which increase their gold reserve more and
reduce the US dollar as a reserve.
Country | 2020 | 2010 |
In Tons (Approx)
Russia 2,299.20 343.41
China 1,948.30 1,035.81
Turkey 485.20 116.00
Serbia 30.90 13.80
UAE 29.50 1.00
Magnolia 23.40 1.80
Russia was the largest gold buyer as a reserve currency (India is the largest buyer
of gold in a decade but for private sale in the market not as a reserve)
(Detail of the Gold reserve Increase in last Decade by countries and their current
Holding)
Euro is also rising as a alternative currency there are few countries with the
largest euro reserve as well
China
Russia
European Union
Iran
Now Countries are also start to diversify their foreign reserve but still dollar is
the most trusted and reserve currency in the world with around 71 % of world
reserve. So it will be very primitive to say that dollar is less trust worthy
currency in the world.
Nice Article
Thanks