From the European Central Bank on the global use of the euro, in summary:
Euro’s share across various indicators of international currency use largely unchanged at around 19%Emerging challenges include initiatives promoting global use of cryptocurrenciesUpholding rule of law essential for maintaining, and potentially increasing, global trust in the euro
And (bolding is mine)
international role of the euro remained broadly stable in 2024euro held on to its position as the second most important currency globallyglobal appeal of the euro is underpinned by sound policies in the euro area and strong, rules-based institutions. “Upholding the rule of law remains essential for maintaining, and potentially increasing, global trust in the euro,” said President Christine Lagarde.
Central banks continued to accumulate gold at a record pacesome countries have been actively exploring alternatives to traditional cross-border payment systemsthere is evidence of a link between geopolitical alignments and shifts in invoicing currency patterns in global trade, particularly since Russia’s invasion of Ukraine
This article was written by Eamonn Sheridan at www.forexlive.com.