SWIFT: US dollar global transaction volume soars to new high

PANews January 22 News, despite the ongoing uncertainty surrounding US President Trump’s policies, the US dollar remains dominant in global trade. According to the latest data released by SWIFT, the global financial messaging service, the US dollar’s share of international transactions in December rose to 50.5%, up from 46.8% the previous month. This is the highest share since 2023, when the organization, headquartered in Belgium, revised its transaction data collection method. Among major reserve currencies, the euro follows with approximately 22%, then the British pound, Canadian dollar, Japanese yen, and Chinese yuan. JPMorgan strategist Louis Oganes and others wrote: “The US dollar continues to dominate foreign exchange trading and international currency usage. Meanwhile, central banks around the world continue to increase their gold reserves, with gold’s proportion of maturing reserve assets in 2025 growing increasingly higher.”