Dollar Still Rules World Markets ; but Shift by China Could Destabilize It
The Washington Times › March 28, 2005
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Summary
The sharp devaluation of the dollar against major currencies in the past couple of years has not eroded the greenback's supremacy in terms of use on global foreign-exchange markets, according to a survey by 52 central banks.
But looking ahead, specialists reckon the biggest challenge to the dollar's standing as the world's preferred currency is likely to come from any unforeseen changes in market strategy by China.See the full content of this document
Extract
Dollar Still Rules World Markets ; but Shift by China Could Destabilize It
In the meantime, the dollar remains No. 1 for international commercial transactions.
The triennial survey, published March 16 and compiled by the Basel, Switzerland-based Bank for International Settlements (BIS), found...See the full content of this document
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