The International Monetary Fund's COFER data for Q2 2025 indicates a slight decline in the U.S. dollar's share of global reserves to 56.32%, primarily attributed to exchange rate fluctuations rather than active rebalancing by central banks. Despite market volatility, central banks have maintained their dollar exposure, with the dollar's share stabilizing at 57.67% after valuation adjustments. Efforts related to Countering the Financing of Terrorism and exchange licensing policies did not significantly impact the dollar's position in global reserves.