A global currency is one that is accepted for trade throughout the world. ... According to the International Monetary Fund, the U.S. dollar is the most popular. 1 As of the first quarter of 2019, it makes up 61% of all known central bank foreign exchange reserves.
Can't touch my dollar
The US Dollar is one of the most traded
The US Dollar is the most commonly converted currency in the world and is regularly used as a benchmark in the Forex market. As the dominant global reserve currency, it is held by nearly every central bank in the world. Additionally, the Dollar is used as the standard currency in the commodity market and therefore has a direct impact on commodity prices.
can't touch my dollar
Dollarization of the USD
Due to its international acceptance, some countries like Panama and Ecuador use the USD as an official legal tender, a practice known as dollarization. For other countries the Dollar is an accepted alternative form of payment, though not an official currency for the country. Multiple currencies are pegged to the US Dollar:
I hope I'm right but you do not have to agree but A very important here missed is the "Petrodollar". USD is still the main medium for transactions and purchase of crude oil from Arab countries.
ReplyDeleteOnly Iran doesn't transact in USD. For ex- Iran and India perform oil purchasing in Indian rupees, thereby both of them escape the route of USD.
However, most of oil is still purchased in dollars which is why dollar is still a very strong currency.
every currency will fall day by day but gold won't.
ReplyDeleteThe US dollar is the only game in town right now unfortunately,I know that many people hate this fact, but there is nothing out there to replace it.
ReplyDelete