Currencies
US Dollar’s Use in Global Transactions Tops 50%, Swift Says
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The dollar’s prowess in global trade climbed in January, accounting for just over half of all the international foreign-exchange traffic sent via the financial messaging service Swift.
The portion of worldwide payments involving the greenback rose to 50.2% in January, up from 49.1% a month earlier, Swift, or the Society for Worldwide Interbank Financial Telecommunication, said in a release. That’s the highest figure since the Belgium-headquartered consortium revised how it collects the transaction data in mid-2023.