The dollar's share of central bank's foreign-exchange reserves slipped in the second quarter, while the euro and yen gained ground, according to a report from the International Monetary Fund.
Dollars accounted for 61.9% of all central bank reserves at the end of the second quarter, down from 62.1% three months earlier, the IMF said. The absolute amount of dollar holdings rose 2.1% to $3.62 trillion.
Overall reserves rose 2.3% to $5.85 trillion for banks that break out which currencies they own, about 55% of total central bank currency holdings.
While 143 countries report individual currencies they own to the IMF, other central banks don't, including China. China holds large foreign-exchange reserves, much of which is in dollars. Total central bank reserves, including countries that don't break out by individual currencies, totaled $10.52 trillion.
The euro and yen made gains at the dollar's expense. The percentage of allocated reserves in euros rose to 25.1% from 24.9%, while the yen's 3.8% share was its highest since 2005.
The increase in euro reserves came as it was sliding toward a two-year low—but also when the Swiss National Bank was buying the currency in large quantities to keep the Swiss franc from strengthening.
Total allocated euro reserves rose 3.2% in the second quarter to $1.47 trillion, an increase equivalent to $45 billion. The Swiss National Bank added the equivalent of $90 billion to its euro holdings in the second quarter, ending the period with $231.15 billion.
Meanwhile, central banks joined investors in buying the yen, which is viewed as one of the most stable currencies to hold during times of market turmoil. Overall, allocated yen holdings rose 4.9% to $220.16 billion from $209.85 billion in the first quarter.
