In 2023 CBDCs struggled to find their raison d’être Other currencies floundered too, In 2023 Mesirow Currency reported on efforts to diminish the importance of the US dollar in international transactions and to reduce its position as the dominant central bank reserve currency We also described the decline of three currencies – the Turkish lira Argentine peso and Russian ruble – and the spread of central bank digital currencies Early in the new year what is the status of those…,   US dollar as reserve currency is still king MCM Insight Nothing lasts forever Is the US dollar an exception The US dollar widely held by central banks for international investments transactions and debt repayment is on many nations’ most wanted list Desperate to use anything but the dollar some nations have met significant difficulty avoiding the US currency In 3Q2022 the dollar made up 6010%…, 3Q2022, Update 3Q2023, 6010%, 5917%, Line chart of world currency composition percent of USD shares of allocated reserves The chart shows a 3-year lookback In the third quarter of 2020 the US dollar accounted for 6045% of the worlds currency reserves In the third quarter of 2023 the US dollar accounted for 5917% of the worlds currency reserves  Source International Monetary Fund imforg The Chinese nation perhaps the most eager…, 3Q2022, Update 3Q2023, 263%, 237%, Line chart of world currency composition percent of Chinese renminbi shares of allocated reserves The chart shows a 3-year lookback In the third quarter of 2020 Chinas renminbi accounted for 216% of the worlds currency reserves In the third quarter of 2023 Chinas renminbi accounted for 237% of the worlds currency reserves  Source International Monetary Fund imforg   Central bank digital…, 2Q2023, Update 1Q2024, Struggling, Slight improvement, Wars are sometimes fought on many fronts so while the Chinese and others battle to dislodge the dollar from its reserve currency perch there are other skirmishes to contest Central bank digital currencies (CBDCs a digital form of a nation’s currency issued by that country’s central bank is one battleground that we wrote about in May 2023   The e-CNY the symbol for China’s central bank digital…, 3Q2023, Update 1Q2024, Plans announced, No official progress, *BRICS – Brazil Russia India China and South Africa In July 2023 Russia leaked news about intentions to issue a gold-backed currency for BRICS countries – originally Brazil Russia India China and South Africa but now including Egypt Ethiopia Saudia Arabia Iran and the United Arab Emirates (Argentina was intending to join but its new president said it would not  The group’s August 2023 summit had…, Explore, Cryptocurrencies and Tokenization, Distributed ledger technology fosters digitization of just about everything Read article, Futures overlays for investors, Hedge Share Class Investors Grapple with Shorter (T+1 Security Settlement Cycle Read article

Sophia Yudkowsky is a Vice President and Wealth Advisor in Mesirow Wealth Management She is focused on the team’s continued effort in creating and implementing customized financial plans for diverse clientele Sophia joined Mesirow in 2017 and has six years of financial services experience Prior to joining Mesirow she worked as an intern with Mesirow Wealth Management and interned with other…