A survey by Invesco found that concerns about the U.S. dollar were widespread and increasing among central banks. According to Jin10, 61% of surveyed central banks said U.S. debt levels were negatively affecting the dollar’s long-term status as a reserve asset, up from 20% in 2024.
The report said the dollar had risen 3% so far this year, supported by the Iran war. However, analysts cited in the report said policy uncertainty in the United States and high debt levels meant the dollar could weaken over the long term.
Invesco said any shift away from dollar investments was likely to be gradual because of a lack of credible alternatives. The survey found that 29% of respondents believed the dollar’s reserve-currency status would weaken within five years, compared with 12% in 2022.
Invesco added that, amid geopolitical tensions, multiple institutions had reported reassessing their reliance on U.S. custodians, counterparties, and clearing infrastructure. Separately, one-third of respondents said they planned to increase gold holdings as part of a diversification trend.
PRECIOUS METALS | Central Banks Plan to Raise Gold Holdings as Dollar Concerns Grow, Survey Finds
2026-06-29 08:02:46
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