# Euro's reserve currency role tumbles at expense of dollar, yen, ECB says

> The ECB reported that the euro's share of global foreign exchange reserves fell by one percentage point to 20% in 2023, with official managers net selling about 100 billion euros of euro assets. The share of the dollar, yen and other currencies rose.

- Date: 2024-06-12 · published 2024-06-12T12:00:00.000Z
- Category: macro · region Global · magnitude low
- Page: https://feedsoft.ai/events/29981-euro-s-reserve-currency-role-tumbles-at-expense-of-dollar-yen-ecb-says
- Commodities: [Euro (USD per EUR)](https://feedsoft.ai/c/EURUSD.md)

## Why it matters

Reserve diversification shifts are a slow-moving structural factor for currency demand and have little direct effect on near-term feed commodity prices.

## Read by commodity

- EURUSD: bearish ▼

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| EURUSD | 2020-10-29 | [Euro Down after ECB, Oil Tumbles, Dollar and Yen Rise - ActionForex](https://feedsoft.ai/events/50842-euro-down-after-ecb-oil-tumbles-dollar-and-yen-rise-actionforex.md) | -0.2% | +1.7% |
| EURUSD | 2016-12-15 | [Euro tumbles to near 14-year low against US dollar](https://feedsoft.ai/events/5966-euro-tumbles-to-near-14-year-low-against-us-dollar.md) | -2.2% | -0.3% |
| EURUSD | 2022-07-06 | [Dollar gains, euro falls as energy drives currency swings](https://feedsoft.ai/events/10285-dollar-gains-euro-falls-as-energy-drives-currency-swings.md) | -1.8% | -0.6% |
| EURUSD | 2021-11-17 | [FOREX-Rate bets rule currency markets as dollar shines; euro, Aussie sag \| Business](https://feedsoft.ai/events/11955-forex-rate-bets-rule-currency-markets-as-dollar-shines-euro-aussie-sag-business.md) | -0.6% | -0.6% |
| EURUSD | 2022-04-28 | [Dollar hits 20-yr high as yen tumbles on dovish Bank of Japan](https://feedsoft.ai/events/8288-dollar-hits-20-yr-high-as-yen-tumbles-on-dovish-bank-of-japan.md) | -0.1% | +1.0% |

## Sources

- reuters.com: https://www.reuters.com/markets/currencies/euros-reserve-currency-role-tumbles-expense-dollar-yen-ecb-says-2024-06-12/

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Data from Feedsoft AI (https://feedsoft.ai/). For information only; not investment advice.