[khuey]

That number you're looking at is "total Swiss foreign currency reserves in units of USD" not "Swiss foreign currency reserves that are USD". Switzerland, for reasons that are fairly obvious, holds large Euro reserves. At the end of 2020 USD was only ~35% of that total amount.

[jrochkind1]

Good correction, thanks! Still 35% of reserves is plenty!

I hadn't considered how many reserves have probably shifted to euros since the euro, that's actually a big deal for the US. Anyway...