SWIFT numbers show that in 2014, the euro’s share reached close to 30%, accounting for almost a third of the payments made inside the system. However, only 22.29% included the euro, declining by nearly 7% in November.
Other fiat currencies also showed a decline in utilization, but none as large as the one experienced by the euro. In opposition, the dollar’s share has increased by 4.68% during the last decade. This might signal that the de-dollarization actions and calls from several non-western-aligned nations have not had the desired effect.
Nonetheless, some of the largest international players have been banned from using SWIFT, so the landscape depicted by this data might be incomplete. China and Russia, for example, are conducting most of their international trade in national currencies, and these volumes would not be included in this report.