Since 2002, the euro has also increasingly been seen as a reserve currency. The dollar has enormous influence, accounting for 63 percent of global foreign exchange reserves (end of 2017). dollar has been considered a reserve currency since World War II because, for example, oil prices are always calculated in dollars and numerous other currencies have pegged themselves to the U.S.
Reserve currencies A reserve currency is a currency that is also used to a particular extent as a means of payment beyond its country of origin.
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