US dollar share of SWIFT payments hits record

The US dollar's dominance in global payments has surged amid the Iran war, with its share of transactions via the SWIFT network rising 1.9 percentage points in March to a record 51.1%. Since 2022, the dollar's share has increased by a substantial 13 points. By comparison, the euro represents only about 21% of SWIFT payments, highlighting the dollar's growing primacy. This shift underscores how geopolitical tensions are reinforcing the dollar's role as the world's primary reserve currency.