The US dollar is still by far the most dominant global reserve currency, among many reserve currencies held by central banks, but its share has been eroding for years, as central banks have been diversifying to other reserve currencies, and also to go...
The US dollar has been the dominant global reserve currency for decades, amid many global reserve currencies. And there are lots of people, institutions, and governments that want to see an end to this “dollar hegemony.” But central banks other than the Federal Res...
First, it's incumbent on the U.S. government, no matter who's in power, to maintain the reserve currency status of the dollar. We have enjoyed that status since the Bretton Woods agreement reached in 1945 in Mt. Washington, N.H., following World War II. The arrangement was crafted...
IS THE US DOLLAR IN DANGER OF LOSING ITS RESERVE CURRENCY STATUS?8% 7 6 5 4 3Saul Eslake
Why Would the Dollar’s Global Reserve Currency Status Be Endangered? On Monday, the IMF’s current managing director, Kristalina Georgieva, made it clear that the US dollar will remain GRC for the foreseeable future. ...
China and Russia are uncomfortable with the prevailingreserve-currency statusof the US dollar, which means it is the main currency used in international trade and held by central banks. Important commodities such as oil, and global services such as air transport, are priced in the...
cannot serve as the primary and only global reserve currency, and must share reserve currency status with other regionally crucial currencies.The new multi-polar currency world must be hatched and launched. Defiance and stubbornness by the USGovt can no longer be tolerated. The United States admit...
A leading Chinese financial official on Monday rejected suggestions the US dollar could be replaced quickly as the global reserve currency, as US Treasury secretary Tim Geithner arrived in China on his first official visit. “In the short term I don’t think we can find another currency to rep...
Even if investors do not demand higher interest rates, given the fact that the US debt has already become the biggest threat to the dollar's status, keeping interest rates high is also a must for the US to safeguard the dollar's status. Needless to say, it is a dangerous gamble, which...
Analysts added that the issue of piling up debt will further damage the U.S. dollar’s status as the global reserve currency, which is already showing worrying signs. U.S. Treasury Secretary Janet Yellen warned earlier in the month, testifying before the House Financial Services Committee, that...