ECB sees no clear rival to US dollar as global currency
American currency has proven resilient since the financial crisis
The US dollar has proven to be a "resilient" reserve currency since the financial crisis, which suggests it will not be replaced by another currency as the international monetary system evolves, according to a special feature published by the European Central Bank (ECB) today.
The ECB's latest report on ‘The international role of the euro' includes an article by Arnaud Mehl examining how central banks are diversifying their reserves and how this impacts global foreign exchange markets.
The
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